Banyan Street Capital
Anyone know more about Banyan Street? They're slowly buying all the office in downtown Atlanta. They're slated to close on 191 Peachtree Road building.
Anyone know more about Banyan Street? They're slowly buying all the office in downtown Atlanta. They're slated to close on 191 Peachtree Road building.
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Rudy Touzet is the man. From my experience, they have a very good rep as buyers, at least in the Southeast.
Not that familiar with them, but 191 Peachtree is one of the coolest buildings in the city
191 is easily my favorite building in Atlanta, and it's not even close. I too am bullish on DT Atlanta office on a 7-10 year hold basis.
To answer your question, they're legit, smart guys (solid REIT/PE backgrounds) with good equity sources. If i remember correctly, they're doing 191 with Oaktree.
Yea I know they do a lot with Oaktree. They're slowly eating up Downtown Atlanta. They did 1355 Peachtree with Oaktree as well.
What else have they done with Oaktree?
I'd forgotten they picked that one up from DRA like a year ago, if i remember right, for something like $195/SF. That one is in midtown though, aside from Peachtree Center what else do they own in Downtown (granted that is huge)?
Saw the package on 191. I didn't really get it. I guess if you have a core plus strategy with a 8-11% IRR target and you can buy it at a 7.50% cap and lever 65% it makes sense, but I don't see huge upside there. I recall it being 88% leased and the biggest tenant, Deloitte, was paying rent well above market and rolling in '24. I thought oak tree was opportunistic but maybe they've got a core bucket? Either way, banyan is probally doing ok on the fees/promote they're getting to run that deal...
Can you share the package? Im interested to see it myself.
Share the package lol
Don't care to see the package lol.. But who was responsible for marketing this property?
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