Crocker Partners and Hedge Fund Acquire Atlanta Skyscraper Bank of America Plaza
Posted on 03/03/2022
CP Group (formerly known as Crocker Partners), a vertically-integrated commercial real estate and management firm, announced the acquisition of Bank of America Plaza in the heart of Midtown Atlanta. The 55-story Class-A skyscraper was acquired in a joint-venture with funds managed by HPS Investment Partners, LLC. The property has been an enduring fixture of Atlanta’s Midtown submarket since its construction in 1992. It is currently occupied by anchor tenants including Bank of America and national law firm Troutman Pepper.
San Francisco-based Shorenstein Properties (via its Shorenstein Realty Investors Eleven LP) is the seller of the building.
Property Address: 600 Peachtree Street, Atlanta, GA 30308.
CBRE’s Capital Markets Institutional Properties represented the seller.
On January 7, 2016, Shorenstein Properties acquired Bank of America Plaza from CW Capital (CWCapital). The property at the time was appraised at US$ 236.5 million.
Earlier in 2022, CP Group paid US$ 51 million for the Buckhead Centre office campus in the Buckhead Village district in Georgia. In 2020, CP Group acquired One CNN Center for US$ 18.8 million.
