Jones Lang LaSalle Incorporated : $21.87M acquisition financing secured for Birmingham office property

CHARLOTTE, July 15, 2021 -JLL Capital Markets announced that it has closed the $21.87 million financing of Renasant Place, a 284,189-square-foot, office building in Birmingham, Alabama.

JLL worked on behalf of the borrower, Cicada Capital Partners, LLC and Eightfold Real Estate Capital, LP, to secure the floating-rate acquisition loan through Ladder Capital Finance LLC.

Sitting in the heart of the Birmingham CBD, the 15-story property is anchored by Renasant Bank and features a diversified rent roll, including tenants in the technology, financial services and legal industries. Renasant Place offers tenants a fitness center, two conference rooms, an on-site Renasant Bank branch.

The JLL Capital Markets team representing the borrower was led by Director John Gavigan.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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