Concourse Corporate Center
In October 2012, Regent Partners acquired the Concourse Corporate Center with partners led by a Chicago-based real estate private equity company. The $300MM plus acquisition exemplifies the firm’s ability to source, secure and execute transactions and stands among the largest office transactions in metro Atlanta over the past decade. The project is comprised of five buildings from 4 to 33 stories including 2 iconic towers known locally as the “King and Queen”. Concourse sits on a 63 acre campus-like development which also includes a full-service Westin hotel, the 80,000 SF Concourse Athletic Club, and a KinderCare daycare facility. In addition, the project includes an 11 acre development site which is zoned Mixed-Use and currently allows for the development of 650 for-sale condominium units and 70,000 SF of retail space. The project exemplifies the features that define trophy quality mixed-use real estate, paired with the transportation and local amenities’ aspects that truly support sustainable, community oriented development. Built in the late 80’s, Regent Partners plan to upgrade many of the common areas and lobbies with blends of stone, wood, and lighting to brighten and activate public spaces.
In 1993 Regent purchased Tower Place in Buckhead, Atlanta from Chemical Bank, out of bankruptcy. This project consisted of 21 acres containing two office buildings, a hotel, retail and 4 acres of vacant land which was then landlocked and undevelopable. Within the next year Regent added an additional 5 acres which provided more developable land and “unlocked” the original 4 acres of vacant land. In 2006, Regent acquired another 4.5 acres of adjacent land to continue the growth of Tower Place. Located in the heart of the Buckhead Business District, Tower Place is a signature example of Regent Partners’ focus on master planning complex, urban mixed use developments. In addition to repositioning the originally purchased assets Regent has developed two office buildings, two residential buildings, expanded the retail, co-developed a second hotel, added a community park and reworked the private roadway and pedestrian areas. Value has been maximized by subdividing the property into its components and selling outright or bringing in partners to the individual components.
3344 Peachtree / SOVEREIGN
3344 Peachtree/Sovereign is a 50 story mixed-use tower located at the center of Atlanta’s Buckhead district. Representing the tallest building built in Atlanta in the last 20 years, 3344/Sovereign has won many awards including: 2007 Deal of the Year Mixed Use – Atlanta Business Chronicle; 2008 Development Excellence – Atlanta Regional Commission and Livable Communities Coalition; 2007 Economic Development Award – Development Authority of Fulton County; 2008 Best Mixed-Use Building in Southeast Region – Southeast Construction.
The 500,000 SF Class-A office portion of the building opened in May, 2008 with a tenant roster including; Jones Lang LaSalle, Littler Mendelson, Fifth Third Bank, Barclays Capital, Regent Partners, SPANX, The Buckhead Club and Buckhead Life Restaurants.
SOVEREIGN represents the brand for the residential component which begins on the 28th floor of the building and features 82 luxury condominiums homes. SOVEREIGN offers luxury living with club amenities and services and are priced from $1 million to $11 million. The first owners closed in August 2008.
Total project cost was $245 million and construction was completed on time and under budget. Regent was the development manager and managing member of the project and Farallon Capital was the financial equity partner. Regent Partners performed property and asset management for the project as well as leases the office building and runs sales and marketing for the residences.