Press Release
FOR IMMEDIATE RELEASE
Atlanta, Ga. – September 16, 2021 – CBRE has announced a $67 million loan, of which $42 million is for the recapitalization and financing of the RGRE Portfolio, a ten-property medical office portfolio located across the Atlanta MSA, and $25 million is to finance the acquisition of additional assets in the portfolio. The 222,337 sq. ft. portfolio is 88.7 percent occupied. Tenants include Emory Healthcare, Northeast Georgia Medical Center, Peachtree Immediate Care, PT Solutions, OutPatient Imaging and Regional Medical Group.
CBRE’s Sabrina Solomiany, Zack Holderman, Lee Asher, Chris Bodnar and Cole Reethof arranged the loan and represented RG Real Estate on the recap of their portfolio. The transaction included the recapitalization of six assets already owned by Atlanta-based RG Real Estate, along with the simultaneous acquisition of four additional assets by a newly formed joint venture between RG Real Estate and Baltimore-based real estate investment management firm Alex. Brown Realty, Inc.
The six assets that were recapitalized and refinanced in the transaction are The Peachtree Parkway Medical Office Building in Cumming, Ga., Buford Medical Office Building in Buford, Ga., Mountain View Medical Center in Snellville, Ga., Commerce Plaza in Decatur, Ga., Milton Hall in Alpharetta, Ga. and Stone Mountain Surgery Center in Lilburn, Ga. The four assets acquired by the joint venture are The Landing Medical Office Building in Douglasville, Ga., Woodlawn Medical Center in Marietta, Ga., Hiram Medical Office Building in Hiram, Ga. and The Pavilion at Windy Hill in Marietta, Ga.
“After a lengthy marketing process, we were able to facilitate a competitive accordion loan and match RG Real Estate with a joint venture partner with a common investment thesis,” said Ms. Solomiany, first vice president at CBRE. “By injecting fresh capital into the new venture, our clients are able to pursue opportunistic transactions consistent with their aggregation strategy.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
Contact:
Katrin Perkins
+1 407 404 5014
Katrin.Perkins@cbre.com
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