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Cushman & Wakefield Arranges Acquisition Financing for Bank of America Plaza

Jade Hubbard • 3/23/2022

ATLANTA, March 11, 2022Cushman & Wakefield announced today that the commercial real estate services firm has arranged more than $300 million in acquisition financing on behalf of CP Group and investment funds managed by HPS Investment Partners, LLC. The financing is for Bank of America Plaza, a 1.35 million-square-foot Class A+ office tower located at 600 Peachtree St. 

Brian Linnihan, Michael Ryan and JP Cordeiro of Cushman & Wakefield’s Equity, Debt & Structured Finance team secured the acquisition financing through CIM.  
“As the tallest building in the Southeast, Bank of America Plaza is an iconic skyscraper that defines the Atlanta skyline,” said Linnihan, Executive Managing Director at Cushman & Wakefield. “When lenders also factored in the long-term, stable in-place cash flow and strong sponsorship, it led to very strong demand for the acquisition financing.”  
Bank of America Plaza is 62% leased to a diverse roster of tenants and offers many benefits as an amenity-rich and pedestrian-friendly location. The building has excellent connectivity to the North Avenue MARTA station as well as Tech Square and Georgia Tech, the region’s focal point for innovation and a primary catalyst to Midtown’s infill transformation. 

The 55-story Bank of America Plaza was originally developed by Cousin Properties in 1992 and is located in Atlanta’s urban core. Today, the building is widely known as the Southeast’s most iconic office tower and is currently the largest building in the region (and 23rd tallest building in the United States).  
“CP Group and HPS have exciting plans for upgrading and renovating Bank of America Plaza, including a complete rehaul of the lobby,” added Linnihan. “Those improvements, coupled with most desirable top floors offering a contiguous block of space, should position Bank of America Plaza perfectly to attract tenants in the market.” 

About CP Group 
Active in the commercial real estate business for over 35 years, CP Group has established a reputation as a premier owner, operator, and developer of office and mixed-use projects throughout the Southeast and Southwest United States. Since 1986, CP Group has acquired and managed over 165 properties, totaling over 55 million square feet, and representing over $7 billion invested. They are currently Florida’s largest and Atlanta’s second-largest office landlord and ranks 25th largest in the United States. Headquartered in Boca Raton, Florida, the firm has a corporate office in Atlanta and regional offices in Denver, Miami, Jacksonville, Dallas, and Washington DC. To learn more about the company, visit CPGcre.com.  

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 approximately 50,000 employees in over 400 offices and approximately 60 countries. In 2021, the firm had revenue of $9.4 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake External Link on Twitter.

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