JLL Capital Markets has arranged refinancing for Perimeter Town Center.
The 274,284-square-foot site in Sandy Springs consists of multiple medical office properties.
JLL worked on behalf of the borrower, Harrison Street and Ackerman & Co., to secure a three-year, floating-rate loan through Mesa West Capital, LLC, according to a press release.
The loan proceeds will be used to repay existing debt, fund capital improvements at the property and partially defray costs for recent leasing activity and near-term lease maturities.
The owners are planning extensive renovations at the properties, including reimagined courtyard areas between the buildings, an overhaul of the landscaping, new wayfinding signage with color-coded identification for easier navigation, refurbished parking areas, new roofing and paint, and more. Ackerman & Co. detailed the renovations in an Instagram video.
Perimeter Town Center is adjacent to the medical hub known as “Pill Hill,” which is home to three hospitals and several practices and support services.
Headquartered in Atlanta, Ackerman & Co. is a full-service commercial real estate firm focused on investment, brokerage, management and development services in the Southeast and Texas. Harrison Street is a leading investment management firm focused on alternative real estate assets.
The JLL Capital Markets team was led by Managing Director Timothy Joyce, Senior Director Anthony Sardo and Managing Director Matt Casey.
