Brickman identified an opportunity to purchase a high-vacancy office park, under-managed office park in Atlanta, Georgia. The property had recently been vacated by a number of tenants and the property was being marketed at well-below replacement costs. Believing the Atlanta office market would rebound, Brickman purchased the property.

Northlake Office Park is a 900,000±SF campus located in Atlanta, Georgia. The property consisted of multiple buildings and a significant amount of undeveloped land.

Brickman recapitalized the asset in December of 2003 and brought in new partners to realize additional value. The firm invested in physical improvements, released to credit tenants, developed multi-family housing adjacent to the office park, and unlocked value by selling a number of the buildings. The Atlanta office market has since rebounded and Brickman expects a significant return on investment.