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Dewberry Picks Up Prime Peachtree Property

ATLANTA (July 6, 2011) - John Dewberry has picked up another prime Peachtree property in Midtown. 

An affiliate of his Dewberry Capital Corp. acquired the grassy field at the northwest quadrant of Peachtree & 17th streets for $6 million. In mid-June, Bisnow Atlanta broke the news that Dewberry had the property under contract, and Atlanta Business Chronicle reported over the weekend that the transaction closed June 27.

A mixed-use development dubbed 1400 Peachtree had been designed for the 1.7-acre tract, but the real estate recession ruined those plans.

With the deal, Dewberry adds a key north Midtown parcel to his collection. Dewberry stunned real estate watchers last year when he acquired Campanile at Peachtree & 14th. He also owns Peachtree Pointe, the Dewberry Ansley development site and Rhodes Center in the Pershing Point area of Midtown.

Dewberry Capital is working to rebrand the area as "Uptown" Atlanta.

 

Georgia's Own Supplied $30 Million Note on Campanile: ATLaw Blog

Andy Peters of The Daily Report just posted the most comprehensive financial data regarding John Dewberry's stunning $36 million acquisition of Campanile.

In the ATLaw blog, Peters cites sale documents showing Georgia's Own Credit Union provided a note for $30 million to finance the purchase. He also quotes an attorney for the credit union who says Dewberry did not supply any additional equity above the $6 million he put down initially to make the deal happen.

Check out the complete report here. Fascinating scoop by Peters, a former Bloomberg reporter.

Dewberry Does It; Campanile Office Tower is His

By Tony Wilbert, WNS PR

ATLANTA (September 9 2010) - The Dew has done it.

John Dewberry closed this week on his stunning acquisition of Campanile in Midtown, according to Real Estate Rooster and Bisnow Atlanta. Bailey Webb, Rooster reporter, broke the news at 9:20 a.m. today. (Thanks to Rooster for the cool photo at left.)

The acquisition is stunning because Dewberry's bid for the former BellSouth headquarters tower was dead in the water only hours before he won the deal. We hear Dewberry's personal visit to Eastdil Secured's office sealed the deal after he was alerted he was not the winner - or even the runner-up.

Word is, Dewberry had the guts to put down $6 million hard to ensure he won the building he coveted. The purchase price was about $36 million.

For Dewberry, a friend and sometime client, buying Campanile further solidifies his position as a major Midtown property owner. He was Midtown when Midtown wasn't cool.