Atlanta Business Chronicle

The 36-story tower at 101 Marietta St. NW, formerly called the Centennial Tower, has sold to a Colorado-based investor that targets distressed assets.

The 101 Marietta tower in Downtown Atlanta may have an iconic look, but it has proven to be a headache in recent years for those with a financial interest in it.

Earlier this year, Bisnow reported that North Carolina-based Dilweg was behind on its loan payments associated with the 36-story, 674,000-square-foot skyscraper. Now, the company has sold the property to Colorado-based Real Capital Solutions, which is betting that Downtown’s surge in retail and entertainment development will benefit office owners in the area.

The price point of the June 24 deal was striking: $49.5 million, which is about 28% less than the amount Dilweg paid in August 2015.

Dilweg took out a $64.5 million acquisition loan from Providence-based Citizens Bank for that $68.8 million purchase, Bisnow reported, citing the Georgia Superior Court Clerks’ Cooperative Authority database. The parties modified the loan several times in the succeeding years, Bisnow reported.

“Yesterday, Dilweg’s role as borrower at 101 Marietta Street concluded following loan maturity,” Dilweg Chief Operating Officer Drew Cunningham said in a statement provided to Atlanta Business Chronicle on June 25. “This outcome reflects the broader impact of sector-wide valuation declines – today, the asset is valued at approximately one-third of its pre-Covid level, which was not supportable under the existing capital structure. We wish the new ownership team continued success.”

The Chronicle reported in March 2025 that Dilweg was expecting offers around $100 per square foot for 101 Marietta. Just before the pandemic in 2020, it was looking for at least $225 a foot, the Chronicle reported.

Neither offering proved tenable, as Real Capital Solutions ended up paying about $73 a foot. The investment firm, which based outside of Denver, saw a bargain.

“Many investors continue to avoid office, but we believe some of the best opportunities in commercial real estate today are hiding in plain sight,” Adam Abeln, chief acquisitions officer at Real Capital Solutions, said in a statement. “Atlanta continues to distinguish itself as one of the country’s most dynamic growth markets and 101 Marietta gives us a highly visible position at the center of that story.”

Real Capital Solutions liked the building’s location near Centennial Yards and the former CNN Center.

The Atlanta Hawks, the Federal Defender Program, YKK AP America, Industrious and the U.S. Small Business Administration are among the tenants at the building, which is roughly 54% leased, according to the buyer. The Atlanta Dream left the building for West Midtown last year.

Real Capital Solutions has made about $5.1 billion in acquisitions since its founding in 1984, often sourcing deals through distressed ownership, lenders and special services.

Earlier this month, it purchased a 309,000-square-foot office complex formerly occupied by Target and located just west of Minneapolis for $34 million. The acquisition of 101 Marietta marks the company’s first purchase in Downtown Atlanta.