Subsequent Events

9 Months Ended

Sep. 30, 2015

Subsequent Events [Abstract]

Subsequent Events

Subsequent Events

On October 1, 2015, the Company acquired Two Buckhead Plaza, an office building located in the Buckhead submarket of Atlanta, Georgia, for a gross purchase price of $80.0 million. The Company assumed the first mortgage secured by the property, which had an outstanding balance of approximately $52.0 million with an interest rate of 6.43% as of October 1, 2015 and a maturity date of October 1, 2017.

On August 26, 2015, a joint venture in which the Company owns a 40% interest reached an agreement to sell 7000 Central Park, an office building located in Atlanta, Georgia, for a gross sale price of $85.3 million. Closing is expected to occur during the fourth quarter of 2015, subject to customary closing conditions, and the Company expects to recognize a gain on the sale of 7000 Central Park during the three months ended December 31, 2015.