Taconic Sells Downtown Atlanta Commercial Property ATLANTA - Taconic Investment Partners has sold 180 Peachtree Street, the 650,000-square-foot property in downtown Atlanta, Ga., which sits on the corner of Peachtree and Ellis Streets.

The property, which Taconic purchased from Federated Department Stores in August 2000, was sold to Peachtree Carnegie LLC for an undisclosed amount.

"Having completed the $23-million capital improvement program, we felt we had maximized the value of this asset at a time of strong interest in quality commercial property in the Atlanta marketplace," says Taconic co-founder Paul E. Pariser. "The disposition is in line with Taconic's overall investment strategy, which involves opportunistic buying and selling of both commercial and residential properties for the benefit our investors."

The improvement program included retrofitting the upper portion of the building, including the addition of 65,000 square feet of usable area, and creating and installing new elevators, new electric service and new fire and life safety systems.

Since its inception in 1997, Taconic Investment Partners LLC has acquired and developed more than eight million square feet of office properties in New York, Chicago, Washington, D.C. and Atlanta. In the last three years, Taconic has acquired new sites for developments of up to 1.5 million square feet of rental and condominium housing.

Featured Articles Investment and Leasing Activity