The Brookdale Group has acquired the Pinnacle and Two Live Oak buildings in Buckhead for $201 million, according to a media release. The 424,350-square-foot Pinnacle building, which is 92 percent leased, and the 286,650-square-foot Two Live Oak building, which is 62 percent leased, are the first acquisitions for Brookdale in the Buckhead market.
The 21-story Pinnacle building and the 13-story Two Live Oak building are located at the intersection of Peachtree Road and Lenox Road. Renovations are planned for both properties, according to the release.
“The purchase of these two well-known towers in the flourishing Buckhead submarket assists in anchoring our seventh fund’s investment portfolio with a couple of excellent assets,” said Fred Henritze, co-founder, president and COO of Brookdale.