Northmarq secures $50.6M recapitalization for Class A office property in downtown Atlanta

ATLANTA — Northmarq’s Dallas Debt + Equity team, led by Joel Heikenfeld and Charlie Rimkus, successfully arranged a $50.6 million joint venture recapitalization for 101 Marietta St., a 672,410-square-foot Class A office property located in downtown Atlanta.

Northmarq arranged the joint venture on behalf of Northmarq Fund Management with a family office relationship who will serve as majority equity partner and operator. The transaction was effectuated via a short-sale and ownership transfer from the previous lender and owner, respectively.  

“We are excited to see an increased interest in quality office assets at a reset basis. 101 Marietta represented an opportunity to acquire a well-leased urban office asset and capture strong tenant demand in the market via a fresh capital stack,” Heikenfeld said.

Located in the heart of downtown Atlanta, 101 Marietta St. is positioned within the city’s central business district and is one of the Southeast’s premier office spaces. The recently renovated 36-story property features modern amenities, including a fitness center, executive conference facilities, collaborative tenant lounge spaces and on-site food and beverage offerings.

The property is home to a diverse tenant base that includes the Atlanta Hawks, the Federal Defender Program, the U.S. Small Business Administration and Industrious, underscoring its prominence as one of downtown Atlanta’s premiere business destinations.

Situated within Atlanta’s thriving urban core near Centennial Olympic Park, Mercedes-Benz Stadium and State Farm Arena, the property combines the connectivity of Midtown with the authenticity of downtown and is well positioned for its next phase of value-add execution.