Cohen & Steers and CP Group Complete Joint Venture Acquisition of 'Buckhead Centre' in Atlanta
Cohen & Steers (NYSE: CNS) and CP Group have finalized a joint venture acquisition of Buckhead Centre in Atlanta, Georgia. This two-building office project spans 169,000 square feet and is positioned on 4.5 acres in a prime location, boasting significant redevelopment potential. The acquisition aims to leverage Atlanta's in-migration trends, enhancing occupancy and income prospects. James S. Corl from Cohen & Steers highlighted the appeal of the property due to its mix of suburban lifestyle and urban amenities, while CP Group has decades of successful partnership experience in real estate.
- Acquisition of Buckhead Centre expected to generate future income streams.
- Strategic location in a high-demand area enhances redevelopment potential.
- Collaboration with CP Group, a reputable operator in the real estate sector.
- None.
NEW YORK, Feb. 23, 2022 /PRNewswire/ -- Cohen & Steers, Inc. (NYSE: CNS) announced today that the Private Real Estate Group of Cohen & Steers Capital Management, Inc. ("Cohen & Steers") and CP Group, the second-largest office landlord in Atlanta, completed a joint venture acquisition of Buckhead Centre in Atlanta, Georgia.
Situated on 4.5 acres along Peachtree Road in Atlanta's Buckhead Village neighborhood, Buckhead Centre is a two-building office project totaling 169,000 square feet with significant redevelopment potential. The property is surrounded by high-end amenity retail and one of Atlanta's leading executive housing neighborhoods. Cohen & Steers believes the amount of in-migration and corporate relocations coming from other cities should assist in keeping occupancy high and creating future income streams, providing for redevelopment opportunities and value creation for investors.
James S. Corl, Head of Private Real Estate at Cohen & Steers, said:
Buckhead Centre is a great example of a well-located 'surban' property offering the appeal of a highly attractive suburban lifestyle combined with urban-like amenities. We believe there is tremendous value in select Sunbelt properties like Buckhead Centre as business leaders and consumers are making new choices in how and where they work, live, play and shop.
Chris Eachus, Partner at CP Group, said:
Buckhead Centre is an incredibly desirable office product in the heart of one of the most coveted and well amenitized neighborhoods in the southeastern U.S. This location presented an ideal opportunity for us to partner with the principals of Cohen & Steers' Private Real Estate Group, with whom we've had a very successful relationship for more than 25 years.
CP Group serves as the operating partner and property manager.
About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in New York City, with offices in London, Dublin, Hong Kong and Tokyo.
About CP Group. Active in the commercial real estate business for over 35 years, CP Group, formerly Crocker Partners, has established a reputation as a premier owner, operator, and developer of office and mixed-use projects throughout the Southeast and Southwest United States. Since 1986, CP Group has acquired and managed over 165 properties, totaling over 53 million square feet and representing over
Website: https://www.cohenandsteers.com/
Symbol: (NYSE: CNS)
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SOURCE Cohen & Steers, Inc.
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