$19.5MM NP Office Loan | Alpharetta, GA
$19.5MM NP Office Loan | Alpharetta, GA
$19.5 Million Non-Performing Georgia Office Loan
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Tom is a Senior Managing Director in the New York office of JLL Capital Markets, Americas. He joined JLL as part of the HFF acquisition and has 10 years of experience in the commercial real estate and finance industry. He is primarily responsible for loan sales, REO Sales and the origination and execution of debt and equity finance throughout the United States.
Tom started at HFF in June 2017. Before that, he was a managing director with Mission Capital. He began his career with Colonial Bank and BB&T working in the special assets department.
- Property Type
- Office
- Deal Type
- Loan Sale
- Risk Profile
- Distressed
Jones Lang LaSalle (“JLL”) has been retained on an exclusive basis by the Seller, a community bank, to arrange the sale of a $19.5 million loan (the “Loan”). The Loan is secured by a first-lien priority deed of trust on the fee simple interest in a Class-A office building (the “Property”), in Alpharetta, Georgia. The Loan, originated in 2015 to acquire the Property, features a rate of Prime (10/15/2015) + 1.25%. The Loan carries a current maturity date of December 31, 2023. As of April 17, 2023, the Loan is currently non-performing with an unpaid balance of $19,542,976 ($117 PSF).
The Property is a 4-story 166,994 SF Class-A office building strategically located in the North Fulton submarket of Alpharetta, GA. Currently 27.5% leased, the Property offers a significant value-add opportunity or owner/user acquisition. The Property offers competitive office product in a market that has seen notable population and employment growth. With proximity to Atlanta, North Fulton County has emerged as a premier suburban-office location.