HFF and Cushman & Wakefield Close $284M Financing for Acquisition and Recapitalization of a 10-Building, 1.68M SF Office Park in Buckhead

ATLANTA–(BUSINESS WIRE)–lt;a href=”https://twitter.com/search?q=%24HF&src=ctag” target=”_blank”gt;$HFlt;/agt; lt;a href=”https://twitter.com/hashtag/Atlanta?src=hash” target=”_blank”gt;#Atlantalt;/agt;–Holliday Fenoglio Fowler, L.P. (HFF) and Cushman & Wakefield (NYSE: CWK)
announce that they have arranged $284 million in financing for (i) the
acquisition of Piedmont Center 14 and (ii) recapitalization of the
borrower’s existing holdings within the Piedmont Center office park in
Atlanta’s Buckhead submarket.

The HFF and Cushman & Wakefield teams worked on behalf of the borrower,
The Ardent Companies, to secure the floating-rate loan through the
lender, a Brookfield-sponsored real estate debt fund.

Upon the acquisition of Piedmont Center 14, The Ardent Companies’
ownership within Piedmont Center totals 10 buildings and nearly 1.7
million square feet on 32.8 acres. Buckhead has long been considered
Atlanta’s preeminent office market due to its renowned neighborhoods and
multitude of hotels, restaurants, nightlife and upscale retail
offerings, and Piedmont Center offers a mix of mid- and high-rise
offerings in a park-like setting just blocks from the heart of Buckhead
and in close proximity to Georgia 400 and MARTA. With a highly diverse
rent roll totaling more than 160 tenants and anchored by Kaiser
Foundation Health, N3, LLC, and Aldridge Pite, Piedmont Center is
well-positioned to benefit from the borrower’s planned capital
improvement program and demonstrate strong NOI growth in the coming
years.

The collective team representing the borrower included senior managing
director Ed Coco and director Matt Casey with HFF and executive managing
director Michael Ryan, executive director Brian Linnihan and senior
director Richard Henry with Cushman & Wakefield.

“With the acquisition of Piedmont 14, The Ardent Companies has expanded
their holdings within Piedmont Center to complement and enhance their
previous acquisitions in 2016 and 2017,” said Coco. “Following the
recent renewal of Kaiser and additional leasing successes across the
park, we were extremely pleased to be able to participate in the efforts
to arrange financing that provides accretive capital and simplifies the
capital structure as The Ardent Companies continues to execute their
business plan to recognize synergies and create additional value at
Piedmont Center.”

“Piedmont Center 14 will add tremendous value to The Ardent Companies’
portfolio,” Linnihan said. “The best-in-class office park is located in
one of Atlanta’s prime office markets and its poised for continued
success in years to come.”

About The Ardent Companies

The Ardent Companies (“Ardent”) is a group of companies operating as a
privately held real estate investment and asset management firm that
combines the disciplines of research and comprehensive due diligence
with a commitment to long-term relationships creating compelling risk
adjusted returns for investors. At its core, Ardent has an extensive and
diverse understanding of real estate, corporate finance and banking that
provide multiple investment alternatives (e.g., loan and fee simple
acquisition, bridge lending, development/rehabilitation). Ardent has
earned a reputation for being a dynamic investor, capable of expeditious
due diligence and creativity focused on reaching the closing table.

About HFF

HFF and its affiliates operate out of 26 offices and are a leading
provider of commercial real estate and capital markets services to the
global commercial real estate industry. HFF, together with its
affiliates, offers clients a fully integrated capital markets platform,
including debt placement, investment advisory, equity placement, funds
marketing, M&A and corporate advisory, loan sales and loan servicing.
HFF, HFF Real Estate Limited, HFF Securities L.P. and HFF Securities
Limited are owned by HFF, Inc. (NYSE: HF). For more information, please
visit hfflp.com
or follow HFF on Twitter @HFF.

About Cushman & Wakefield

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services
firm that delivers exceptional value for real estate occupiers and
owners. Cushman & Wakefield is among the largest real estate services
firms with 48,000 employees in approximately 400 offices and 70
countries. In 2017, the firm had revenue of $6.9 billion across core
services of property, facilities and project management, leasing,
capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com
or follow @CushWake
on Twitter.

Contacts

ED COCO
HFF Senior Managing Director
(404) 832-8460
[email protected]

KRISTEN MURPHY
HFF Director, Public Relations
(617)
338-0990
[email protected]

SAVANNAH DURBAN
Cushman & Wakefield, Communications
Specialist
404-853-5371
[email protected]

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