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Cushman & Wakefield Arranges $90M Refinancing Loan for Multifamily Property in Atlanta
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Rhea-AI Summary
Cushman & Wakefield (NYSE: CWK) has successfully arranged a $90 million refinancing deal for Perennial Properties, Inc. concerning the Arya Peachtree, a 282-unit multifamily property located in Atlanta. The refinancing was secured by the Capital Markets team, including notable members Mike Ryan and Blake Cohen. The property has experienced increased demand due to local developments, notably the expansion of Piedmont Hospital. Arya Peachtree is a newly built, 12-story Class A space with significant office and retail spaces, strategically positioned near major employment hubs.
Positive
Successfully arranged $90 million refinancing, improving liquidity.
High demand for Arya Peachtree driven by local area renovation and development.
Location benefits from proximity to Buckhead and Midtown employment hubs.
Negative
None.
ATLANTA--(BUSINESS WIRE)--
Cushman & Wakefield (NYSE: CWK) announced that the commercial real estate services firm has arranged $90 million in refinancing on behalf of Perennial Properties, Inc. for Arya Peachtree, a 282-unit multifamily property located at 1777 Peachtree St. NE in Atlanta.
Mike Ryan, Brian Linnihan, Blake Cohen, Richard Henry and Taylor Crowder of Cushman & Wakefield’s Capital Markets team secured the refinancing loan.
“Peachtree St. has seen tremendous demand over the past several years, sparked by the expansion and development happening in the area, including the recent multi-million-dollar renovation/expansion of Piedmont Hospital in the property’s immediate neighborhood,” said Ryan, Vice Chair at Cushman & Wakefield. “Arya Peachtree as a result is very well positioned to capture increased leasing demand as Atlanta gradually continues its post-pandemic reopening.”
Arya Peachtree is a newly constructed, 12-story Class A space with 16,346 square feet of office and retail on the first two floors and access to two of Atlanta’s largest commercial and employment hubs, Buckhead and Midtown.
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
