When CNL Growth Properties acquired the three-building office complex called Gwinnett Center in 2011 for $14.1 million, they hoped to invest some money into the asset and reposition it over the next three to five years. Upon seeing Atlanta begin to crawl out of the pit created by the recession, the firm opted to change strategies and place the complex on the market. This did just this in May of 2013.
After several months on the market, it looks like CNL has their buyer. Paperwork was filed this week with the SEC that suggests an agreement has been entered with a buyer for $15.8 million. The buyer details have yet to be revealed, but the deal is expected to close by the end of the first quarter.Share