ATLANTA, Ga. – June 29, 2019 – Crocker Partners announced the acquisition of Paces West, a Class A Cumberland/Galleria property, in a joint venture with Farallon Capital. Since 2015, Crocker Partners has been serving as the asset and property management team for Investcorp. After executing on their business plan, the company is now looking to take the property to the next level.

“We are excited to expand our partnership with Farallon through the acquisition of a landmark property in the Cumberland submarket,” said Chris Eachus, Partner at Crocker Partners. “Over the next 12 months, we intend to make significant improvements to the property’s common areas and amenities which will further enhance the appeal of the property to our current and future tenants.”

The acquisition brings the total square footage Crocker Partners owns or manages in Metro Atlanta to 2.5 million. They own and/or manage 11 million square footage portfolio-wide.

“Our team worked very closely with Farallon and Crocker Partners to create a unique debt structure at highly competitive terms that will enable the new ownership team to execute its business strategy for the investment,” said Jonathan Rice, senior vice president at CBRE.

Located in Vinings Village, Paces West consists of two office towers making up 646,471 sf connected by a pedestrian bridge, an amenity that has historically drawn large corporate tenants. Formerly the corporate headquarters for The Home Depot, the office towers are currently 93% leased to a diverse tenant roster.