Crocker Partners Acquires Atlanta's Prominence Class A Office Tower

PRLog (Press Release) - Oct. 8, 2012 - Boca Raton, FL – Crocker Partners (http://www.crockerpartners.com/) announces the acquisition of the Class A Prominence office tower in Atlanta’s Buckhead submarket -- the latest in a series of acquisitions totaling approximately $700 million and 3.1 million square feet in the past 20 months.

The private real estate investment company acquired the 18-story, 432,000-square-foot Prominence building and adjacent 6.4 acre land parcel for $105 million. In all, Crocker Partners now owns and/or manages approximately 2.5 million square feet of office space in the Atlanta market, and is continuing to pursue additional investment opportunities there.

The acquisition comes on the heels of Crocker Partners’ purchase of Miami Center, one of Miami’s highest-profile office addresses. The 34-story, 803,000-square-foot building was acquired in June 2012 for $262.5 million in one of the Miami market’s largest office building transactions since 2008.

Managing Partner Tom Crocker said the Company, which now has a portfolio of more than 3.5 million square feet, is actively pursuing additional Class A office properties, targeting growth markets in the Southeast and Southwest. “Our strategy focuses on top-tier assets in second-tier cities,” he said. “After sitting tight for the right market conditions, we are buying quality assets in urban in-fill locations that we can position to deliver value for our investors.”  

Headquartered in Boca Raton, FL with regional offices in Atlanta and Houston, Crocker Partners is known as a leading owner and developer of  high profile properties in key markets, with a highly disciplined approach to investing. The Company’s current holdings also include Lakes on Post Oak, a 1.2 million-square-foot complex in Houston’s Galleria submarket; Suntrust International Center, a 420,000- square-foot office tower in downtown Miami, and One Financial Plaza, a 276,000-square-foot tower in downtown Fort Lauderdale.  

In all, Crocker Partners’ principals have owned, managed and developed more than 31 million square feet of Class A mixed-use, office, or residential projects valued at approximately $3.7 billion in major markets in the Southeast and Texas.  For more information, contact Angelo Bianco, 561-447-1810, email investor_relations@crockerpartners.com, and visit www.crockerpartners.com.

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