Parmenter Acquires Lenox Building – 5th Acquisition In Fund IV

FOR IMMEDIATE RELEASE

Contact: Ellen Wisniewski
Telephone: (305) 379-7500
Email: mediarelations@parmco.com

Parmenter Acquires Lenox Building – 5th Acquisition In Fund IV

Parmenter Realty Partners announced today it has purchased The Lenox Building, expanding its
Fund IV portfolio into the Buckhead submarket of Atlanta. The close of the Class A, 19-story
skyscraper is now finalized after terms were agreed upon between Parmenter and the tower’s seller,
Clarion Partners.

The Lenox Building is renowned as the only office property in Buckhead attached to the famed
Lenox Square Mall and the JW Marriott Hotel. The building offers access to the regional mall that
is scheduled for upgrades as well as the 370-room hotel and conference center that recently
underwent a $10M renovation. The 350,000-square-foot office tower is complete with a fitness
center, structured parking, café, and offers direct access to the city’s MARTA Lenox station.

Andrew Weiss, COO of Parmenter, said the acquisition of Lenox has been in the firm’s crosshairs
for some time and was pleased to sign a lease of more than 9,000 square feet during the due
diligence period of the deal. “This lease is indicative of the rebounding market, and we are excited
to make our entrance into Buckhead with one of the finest Class A buildings available,” Weiss said.

Parmenter’s Managing Principal John Davidson commented on the firm’s plans for the building.
“We will reintroduce the tower and its state-of-the-art amenities with an upgraded image. The
accessibility of this location is ideal, with direct access to Hartsfield-Jackson Atlanta International
Airport. It is perfect for Atlanta companies with broad geographic reach,” Davidson remarked.

The firm intends to capitalize upon their new acquisition, Davidson noted. “Parmenter has been
focused on obtaining this asset for these reasons and others. We’ve even decided to relocate our
own regional headquarters to the building in upcoming months.”

The purchase is the fifth acquisition for Parmenter Realty Fund IV with financing provided by GE
Capital Real Estate. The Parmenter acquisition team included Southeast Region executives John
Davidson, Michael Holmes, and Reginald Mackey.

Parmenter Realty Partners is a commercial real estate investment, management and development
company that operates a series of institutional investment funds focused on the Southern Tier of the
US, actively involved in the expansion of its portfolio in the major markets of this region.
Headquartered in South Florida, Parmenter also operates regional offices in Dallas and Atlanta.
Parmenter’s investment strategy utilizes its vertically-integrated platform to increase value on
behalf of its investors.

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For more information on this topic please contact Parmenter Media Relations by calling (305) 379-7500 or via e-mail at MediaRelations@parmco.com.