Pershing Park Plaza

In July 2009, ELV identified an off-market opportunity to acquire Pershing Park Plaza, a 9-story, 159,891 square foot Class A office building with four levels of subsurface parking located in the Midtown submarket of Atlanta. The investment strategy called for acquiring excellent quality real estate in an irreplaceable location at 2009 depressed pricing levels while enjoying a predictable and attractive revenue stream. As leasing and capital markets recovered strongly, the debt was refinanced offering attractive debt terms. The property was sold in August 2016 supporting a 20% IRR over the holding period.