Selig Enterprises has secured one of Atlanta’s largest office financings of the year, marking a notable win for Midtown’s office market. The multi-million dollar loan will improve the financial stability and cash flow of the office tower. Meanwhile, it also highlights the continued investor confidence in the city’s office market.
Major Financing Milestone for 1105 West Peachtree
1105 West Peachtree, home to Google’s Southeast headquarters, is being refinanced through a $245 million loan. Developed by Selig Enterprises, which has now secured the $245 million loan in partnership with Florida SBA. The financing was originated by Bank of America and arranged by CBRE’s Debt & Structured Finance team.
Overview of 1105 West Peachtree
The 31-story tower is spans 653,525 square feet in Midtown Atlanta. The Class A trophy office tower is fully leased to Google and law firm Smith, Gambrell & Russell. The development anchors a three-tower, mixed-use destination featuring luxury residences, a boutique hotel, curated retail, and multiple dining concepts.
“Securing this financing for 1105 West Peachtree is a significant milestone not only for our company but for the office market as a whole,” said Rendle, Chief Investment Officer at Selig. “At a time when few office refinances are happening, especially for assets of this scale, this transaction underscores continued investor interest in the Atlanta market and the long-term value of a truly exceptional property.”
The refinancing allows the property to retire existing debt and secure long-term financing. It will now be able to free up capital that can be used for other company needs and investments. Meanwhile, this refinancing signals to the market that high-quality office assets are well supported by lenders.
Features of the Mixed-Use Tower
Delivered in 2021, 1105 West Peachtree is a premier office destination that is 95.4% leased. The tower features a striking architectural design, a hospitality-inspired lobby, and expansive floorplates. The development is also home to full-service restaurants including The Office Bar, Ariel Kitchen & Bar, Reverence, Emilio’s Tacos and Tequila, and For Five Coffee.
The Epicurean Atlanta brings its 64 luxury condominiums to the tri-tower, offering comfort and hospitality. Meanwhile, fitness studio Barry’s satisfies the fitness needs of the community created here.
1105 West Peachtree is a vision of Steve Baile and the late Scott Selig, which came to life in 2021. The development was designed to bring new energy and innovation to a key block in Midtown’s core.
