ATLANTA, Ga.—The actual property holding firm CP Group has introduced that it has acquired One CNN Middle within the coronary heart of downtown Atlanta for an undisclosed sum.
As a part of the deal, AT&T’s WarnerMedia will leaseback the CNN Middle for an unspecified variety of years.
The sale had been within the works for a while. WarnerMedia introduced that it could promote CNN Middle in June of 2020.
The acquisition was accomplished by way of a three way partnership with funds managed by Miami-based Rialto Capital Administration, LLC (“Rialto Capital”).
CNN has occupied the 1.2 million-square-foot constructing since 1987 and whereas lots of its reveals at the moment are produced in New York and Washington, it stays the cable information community’s international headquarters.
When WarnerMedia introduced plans to promote the long-lasting constructing, it mentioned it could centralize most staff at its Techwood WarnerMedia campus in Atlanta.