Contact Us
News

STILL SHOPPING

Atlanta
STILL SHOPPING
parmenter realty partners john davidson clarion lenox building bukchead value-add
We chatted with Parmenter Realty Partners' John Davidson the other day, fresh from his  big purchase  of The Lenox Building from Clarion Partners. John says Parmenter was attracted to the  350k SF tower because of the mounting growth in the Buckhead market. ?We [made] pretty conservative underwriting assumptions,? he says. ?We're not expecting Buckhead to turn around overnight.? The company plans to undergo up to $400k in cosmetic upgrades. John also says Parmenter continues to scout Atlanta for other value-add assets to buy, typically with a three- to five-year hold time before it sells again. (So check back again when the Olympics are in Rio instead of London.)