The Atlanta Business Chronicle reported Wednesday that KanAm grundinvest fonds (KanAm Grund) is selling its two Atlanta office buildings, Midtown I and II.
According to ABC Commercial Real Estate Editor Douglas Sams, the Frankfurt, Germany-based real estate investment fund’s decision to market the buildings, which it purchased in 2007 for about $242 million, has been in the making for weeks.
Due to uncertainty among its investors as a result of the euro crisis among other issues, KanAm Grund announced earlier this year that the fund “would be liquidated” as soon as possible with investors benefitting from the proceeds.
The buildings are located at 754 and 725 Peachtree Street and the complex was built in 2001 and 2002.
AT&T, which previously had owned the buildings, sold them shortly after its purchase of BellSouth Corp. in 2006. After selling to KanAm Grund, AT&T signed a 10-year lease to remain as the complex tenant.
See more from the ABC’s article here.