REIT Buys 730 Midtown



Last month, a REIT managed by Harbert Management Corp purchased 730 Midtown, the 11-story office building located at 730 Peachtree in the Midtown submarket. Colony Realty Partners sold the asset for an undisclosed amount. Reps from Harbert said that the asset is a great value-add play, as it is currently only 84% leased, and that they plan to spend more than $2 million on interior and exterior renovations to boost the occupancy numbers. Harbert reps say that they will reposition the building to appeal to the growing number of tech firms and start-ups that are seeking space in the Atlanta market.



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