Morning Calm Office Finance Originates $59 Million Loan to Refinance Class-A Office Building in Atlanta
BOCA RATON, Fla.–(BUSINESS WIRE)–Today, Morning Calm Office Finance, a joint venture between Morning Calm Management and a leading global investment manager, announced that it provided The Atlantic Companies, a vertically-integrated commercial real estate owner and operator, with a $59 million loan to refinance the maturing construction loan on 8West, an innovative office project located at 889 Howell Mill Road in West Midtown Atlanta.
“This loan directly aligns with our targeted investment strategy,” said Mukang Cho, Founder and CEO of Morning Calm Management. “8West is a marquee office building in one of Atlanta’s most sought-after business corridors and is owned by a blue-chip sponsor in The Atlantic Companies. We are excited to work with The Atlantic Companies and also look forward to serving as a reliable source of flexible capital for other owners of high-quality office buildings in major markets.”
Completed in 2020, 8West includes 193,000 square feet of creative office space. The thoughtfully designed 9-story, Class-A office building provides views of Atlanta’s skyline and features open floorplates and numerous amenities including a fitness facility, rooftop deck and catering kitchen, common collaborative spaces and conference facilities, and an outdoor public plaza. Given its ideal location in West Midtown and its proximity to the Georgia Tech campus, 8West attracts the young, talented workforce coveted by regional firms and national corporations. Ford Motor Company recognizes these attributes and is a major tenant at 8West.
West Midtown is a thriving submarket that is recognized as an incubator for start-up culture and is home to numerous restaurants, shopping destinations and entertainment venues. 8West is considered one of the area’s most well-connected properties with access to I-75 and I-85 from both the north and south. Five universities and research centers are situated within three miles of 8West, providing access to a highly educated and talented workforce – primary reasons why numerous financial services, law firms and technology companies call the area home. As one of the submarket’s newest and most well-amenitized office buildings, 8West is positioned to attract other leading companies.
About Morning Calm Management
Morning Calm Management is a vertically integrated real estate investment and management firm with a focus on special situation investing. Through its affiliates, the firm owns and manages approximately 10 million square feet of commercial real estate throughout the United States on behalf of private and institutional capital. For more information, please visit: http://morning-calm.com/.
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Jason Chudoba, ICR for Morning Calm Management
Jason.Chudoba@icrinc.com