At a glance
- City National Bank provided the loan, Connect CRE reported.
- The property was completed in 1989 and was extensively renovated in conjunction with the tenant's occupancy, including significant capital investment by Crawford, according to the report.
- The $17.1 million loan comes to roughly $157 per square foot.
CBRE arranged a $17.1 million refinancing for The Crawford Global HQ, a 109,171-square-foot office building in Peachtree Corners, Georgia, on behalf of Midtown Capital Partners. City National Bank provided the loan, Connect CRE reported. Mike Ryan, Richard Henry, Blake Cohen and Taylor Crowder led CBRE's Debt & Structured Finance team on the deal from Atlanta.
The five-story building at 5335 Triangle Parkway NW is 100% leased to Crawford & Company, a publicly traded claims-management company that has occupied it as its global headquarters since 2017. The property was completed in 1989 and was extensively renovated in conjunction with the tenant's occupancy, including significant capital investment by Crawford, according to the report.
The $17.1 million loan comes to roughly $157 per square foot. Ryan said in the report that the transaction demonstrates lender interest in well-performing office properties with durable cash flow and tenants that have made substantial, long-term commitments to their space.
Reported by the Real estate debt desk from Connect CRE. Published . Corrections