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November 18, 2014

OA Development closes on $13.7 million North Fulton acquisition

Closing marks company’s 13th acquisition in five years, totaling more than 1.6 million square feet

Atlanta-based OA Development announced today that it closed on One Point Royal, a one-building development situated along the North Point Parkway corridor in Atlanta’s North Fulton submarket. The 149,690-square-foot, two-story asset, which was constructed in 1996, is 71 percent leased to a variety of regional and national clients including North Point Ministries, Inc.; General Electric Company; and Cabot Corporation.

One Point Royal was purchased for $13.7 million. Bank of North Georgia provided the debt with oversight by senior vice president Mark Hancock, and Tom Howland, managing director at Sandler O’Neill + Partners, served as financial advisor to OA Development. The deal was brokered by Cushman & Wakefield’s Investment Sales Team led by executive director David Meline and director Samir Idris. The debt was arranged by Cushman & Wakefield’s Equity, Debt, and Structured Finance Team led by managing director Brian Linnihan.

“OA Development has always been known for its deep understanding of suburban office markets. Because of our strategic pairing of local and global capital with high-quality commercial properties, we have been able to take calculated risks in this market segment when others hesitated,” said Brian Granath, partner. “We are excited to close on One Point Royal, offering OA’s investors impressive returns as the market comes back to life.”

This is the 13th commercial building that OA Development has acquired since July 2009, bringing the company’s total square footage acquired to 1.6 million square feet.

About OA Development
OA Development specializes in buying and developing thriving commercial properties, including office buildings, industrial warehouses and flex properties. The company is delivering conservative, solid results for investors during the new economy.