Dilweg Successfully Renovates and Sells 250 E Ponce
North Carolina Firm Closes Deal on Decatur Building Home to Emory’s School of Nursing
ATLANTA (September 21, 2021) — Dilweg, a leading Southeast real estate investment firm, today announced the sale of the office building located at 250 East Ponce de Leon Avenue. The property, known as 250 E Ponce, sold to The University Financing Foundation, Inc. (TUFF), a nonprofit real estate development organization dedicated to advancing education and research.
“We have established a track record of successfully acquiring, renovating, and profitably selling assets, and this property is no exception,” said Jerry Banks, Managing Director of Asset Enhancement for Dilweg. “We are proud of our positive impact as an owner/operator in Atlanta and are excited to continue growing our presence in this market.”
TUFF has purchased 250 E Ponce for $52.5 million following renovations and improvements made to the lobby, outdoor amenity space, and exterior signage by Dilweg. Located steps from the historic Decatur square, 250 East Ponce is a 145,538 square foot office space that is home to Emory University’s Nell Hodgson Woodruff School of Nursing. Dilweg purchased the building in August 2016 and has since successfully increased value by backfilling vacancy with credit tenants and improving operational performance.
“TUFF’s mission is to provide physical space for institutions like Emory University, and 250 East Ponce fits nicely into our portfolio of university anchored facilities,” said Kevin Byrne, TUFF President and CEO. “We will convene institutional, governmental, and private sector participants to magnify interactions and expand research and job creation output in the Decatur submarket and, we will promote industry collaboration and public and private investment in business growth and future infrastructure development.”
CBRE represented Dilweg in the sale of 250 East Ponce. Avison Young’s Kirk Rich assisted with the leasing at 250 East Ponce.
Dilweg’s Atlanta office opened in 2015 and currently owns and manages office and mixed use spaces throughout Metro Atlanta, including the iconic 101 Marietta building, Northridge Commons, The Pointe, and The Paddocks. The firm is considered one of Atlanta’s largest office landlords, with its local portfolio totaling 1.7 million square feet.
Dilweg is the expert, strategic commercial real estate investment firm that consistently generates risk-adjusted returns for investors by resourcefully uncovering unique opportunities and intently focusing on result-centric execution. With offices in Durham, Atlanta, Charlotte, and Tampa, Dilweg is a full-service real estate organization, whose mission is to deliver long-term value to its investors, tenants, and the community. Since its beginnings in 1999, the firm has acquired more than $1.34 billion in asset value and more than 11.1 million square feet throughout the Southeast. In recent years, the firm shed many of the non-strategic assets and concentrated the majority of acquisitions on Class-A office buildings, primarily in the Atlanta, Charlotte, Nashville, Tampa and Raleigh-Durham metros. In the process, the firm established itself as a high-quality investor and operator of opportunistic and value-added, middle-market ($15 million to $100 million) office assets.
About The University Financing Foundation, Inc.
The University Financing Foundation, Inc. (TUFF) is a nationally recognized 501(c)(3) nonprofit real estate development organization dedicated to advancing education and research. Its mission is to serve institutions with solutions tailored to the specific needs of our partners. The foundation specializes in navigating complex situations which leverage our expertise in institutional programming, real estate, and finance. TUFF has over $1.7 billion in transaction volume through 56 transactions. Over a 40-year history, they have developed thriving innovation communities and state-of-the-art campus facilities with one simple goal: develop Place for Progress.