PGIM Real Estate has acquired Regions Plaza, a 23-story, Class A office tower in Atlanta, Georgia, on behalf of institutional investors. PGIM Real Estateis the real estate investment business of PGIM, the global investment management businesses of Prudential Financial, Inc. (NYSE: PRU).
Built in 2001, Regions Plaza is a 502,846-square-foot LEED Gold- and Energy Star-certified office tower on about 1.8 acres at the northwest corner of West Peachtree and 14th streets in Midtown Atlanta. It is within walking distance to numerous restaurants and high-end condominiums, with easy access to Interstates 75 and 85, Atlanta’s primary north-south highways, and MARTA’s Arts Center Station.
“We are pleased to add a modern, best-in-class office high-rise in Atlanta’s premier office submarket to our investors’ portfolio,” said Alfonso Munk, Americas chief investment officer for PGIM Real Estate. “Fueled by favorable demographics and population growth in the renters’ age cohort, we expect that Midtown Atlanta will continue to grow into one of the most dynamic live-work-play environments in the region.”
Regions Plaza offers a full-service concierge, valet parking, conference facility, on-site Flywheel and FlyBarre Studio, dry-cleaning, dining and on-site banking services. These premier amenities have attracted a range of tenants including banking, sales, technology, construction and law firms.
The acquisition of the property was led by Jim Mehalso, managing director and head of Atlanta-based Southeast Transactions at PGIM Real Estate.
About PGIM Real Estate
PGIM Real Estateis the real estate investment business of PGIM, the global investment management businesses of Prudential Financial, Inc. (NYSE: PRU). Redefining the real estate investing landscape since 1970, PGIM Real Estate has professionals in 18 cities in the Americas, Europe and Asia Pacific with deep local knowledge and expertise, and gross assets under management of $66.9 billion ($47.7 billion net) as of March 31, 2017. PGIM Real Estate’s tenured team offers to its global client base a broad range of real estate equity, debt and securities investment strategies that span to risk/return spectrum. For more information, visit pgimrealestate.com.
