Skip Ribbon Commands
Skip to main content

News release

Atlanta

Jones Lang LaSalle Seeks $70 Million Senior Debt Financing for Recapitalization of 3344 Peachtree

Prestigious Buckhead Trophy office building completed in 2008


ATLANTA, Feb. 5, 2009 — Jones Lang LaSalle’s Real Estate Investment Banking team has been exclusively retained to arrange senior debt financing of $70 million for the recapitalization of 3344 Peachtree, a 484,688-square-foot newly delivered Trophy office building in Atlanta’s premier Buckhead neighbourhood.  Managing Director Wes Boatwright is leading the Jones Lang LaSalle team on this transaction.
 
Completed in mid 2008, this high-profile project is home to the prestigious Buckhead Club and is currently over 70 percent leased.  The building currently provides a 10 percent yield to the requested loan amount of $70 million, and a 15.5 percent yield at stabilization.
 
3344 Peachtree Road is an address of distinction located in the heart of Buckhead along the newly upgraded Peachtree Boulevard. The Building provides image conscious tenants with Peachtree frontage and a Peachtree Road address and still maintains direct 24/7 access to the Buckhead Loop, GA-400 and Atlanta’s major thoroughfares. Soaring 50 stories above Atlanta's skyline the modern architecture makes a graceful statement with sweeping curves that add beauty and depth to the Buckhead skyline. From street level the building provides a warm and inviting promenade with casual dining, banking and financial services, and a leading Atlanta restaurant being exclusively designed by The Buckhead Life Group. The office floors occupy levels 8 to 26, and provide amenities such as the Buckhead Club on the 26th floor which has private club dining, meeting spaces and an executive fitness center.
 
Jones Lang LaSalle Capital Markets is composed of a broad range of real estate investment debt and equity specialists, and corporate finance experts, working on all property types and in all the major national markets on behalf of major institutional and local investors and developers, as well as corporations.  The firm's Capital Markets professionals are highly skilled at pinpointing and tailoring the right capital solutions for each of these client's needs.  The Investment Sales teams assist investors in developing and executing asset recapitalization strategies for office, industrial, retail, multifamily, healthcare and seniors housing product.  The firm’s Real Estate Investment Banking experts raise debt and joint venture equity for investors and developers, and provide secondary loan sale advisory services.  The Corporate Capital Markets professionals help corporations develop and execute strategies that bridge their occupancy, capital deployment and financial reporting objectives for their facility portfolios.  Collectively, the firm's Capital Markets team handled $82 billion in annual transaction volume in 2007.
 
About Jones Lang LaSalle
 
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2008 global revenue of $2.7 billion, Jones Lang LaSalle serves clients in 60 countries from 750 locations worldwide, including 180 corporate offices.  The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.3 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $46 billion of assets under management. For further information, please visit our Web site, www.joneslanglasalle.com.