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New York Life affiliate pays $166M for Atlanta office tower

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New York Life affiliate pays $166M for Atlanta office tower

New York Life Insurance Co.'s REEP-IMPIC OFC Prominence Atlanta LLC affiliate on Dec. 21 acquired an office tower in Atlanta's Buckhead district for $166 million, the Atlanta Business Chronicle reported, citing Fulton County records.

Crocker Partners LLC divested the 19-story, 433,000-square-foot Prominence building at Piedmont and Lenox roads at a price translating to more than $380 per square foot, the Dec. 30 report added.

The building alone was valued at below $125 million in 2018 by the county, while the entire asset, including land, was pegged at $135 million.

Crocker Partners bought the tower in 2012 for $105 million, the publication added.