Sharon Renaud, Public Relations Manager
Delta Community Provides Financing for Prominent Office Park
Credit Union Funds Acquisition of $46.1 Million Chastain Center in Northwest Metro Atlanta
ATLANTA (Dec. 16, 2019) – Delta Community Credit Union (www.DeltaCommunityCU.com), Georgia's largest credit union with $6 billion in assets, recently provided financing for the acquisition of Chastain Center by Atlanta investor Glenfield Capital. Glenfield purchased the single-story office complex for $46,100,000 from TerraCap Management of Estero, Florida.
Chastain Center houses several national tenants including global manufacturer Dover Corp., the General Services Administration, and the IT division of Atlanta-based Aaron’s, Inc.
“We seek opportunities to help our members execute many types of commercial real estate transactions,” said Delta Community’s Chief Lending Officer Bob Walsh. “From well-established real estate investors to manufacturers, distributors and professional service companies, Delta Community has the resources and expertise to offer creative financing solutions to meet the needs of our commercial members.”
Chastain Center is a six building, 303,451 square-foot office park located 25 miles northwest of downtown Atlanta in Kennesaw. Situated between Interstates 75 and 575, it is near many of the area’s affluent neighborhoods, medical and professional businesses, as well as Kennesaw State University.
“Chastain Center is positioned in one of the most vibrant areas in metro Atlanta with a vacancy rate that outperforms the overall Atlanta market. The project has a strong tenant roster and long term lease commitments in place which should ensure solid cash flow for many years to come,” said James Cate, founder and managing principal of Glenfield Capital. “We were delighted with the flexible terms and competitive pricing offered by Delta Community Credit Union in financing our most recent investment.”
Delta Community’s experienced commercial banking team welcomes accomplished investors and business owners seeking financing for high quality commercial real estate in the metro Atlanta area. For more information, contact 404-677-4114 or Commercial.Banking@DeltaCommunityCU.com
About Delta Community Credit Union
Delta Community Credit Union is a not-for-profit financial cooperative with a mission of providing better service and value on the products consumers use to manage household expenses and save for the future. Founded in 1940, Delta Community is Georgia’s largest credit union with more than 400,000 members, three out-of-state branch locations and 26 branches in metro Atlanta. It welcomes anyone living or working in metro Atlanta as well as employees of more than 140 businesses including Chick-fil-A, Delta Air Lines, RaceTrac and UPS. Visit www.DeltaCommunityCU.com to learn more about opening an account at Delta Community or follow the Credit Union on Facebook at www.facebook.com/DeltaCommunity and Twitter at @DeltaCommunity.