09/03/2026
We recently found an office investment that stood out for all the right reasons.
Wellings Capital recently invested $6 million of JV Hybrid structured equity in the acquisition of a Class A office property in the Atlanta MSA.
As our Managing Partner, Benjamin Kahle, recently shared, broad labels like “office” only tell you so much. The details matter.
A few things stood out to us:
• Going-in cap rate above 11% on trailing NOI
• Approximately 80% occupied across 22 tenants
• No single tenant representing more than 16% of the building
• Experienced office operator with 30+ years in the sector
• Five-year fixed-rate debt at approximately 55% loan-to-purchase price
The investment doesn’t rely on falling cap rates to generate returns.
It’s a good example of why we evaluate each opportunity on its own merits, not just by asset class.
