Atlanta’s Iconic CNN Center Reimagined with $56.4M Green Financing

ATLANTA, GA – June 30, 2026 – For decades, the CNN Center was a global symbol of breaking news, a glass-and-steel behemoth humming with the energy of a 24-hour news cycle. Today, after the broadcast crews have departed, a new kind of energy is coursing through the landmark property—one powered by a $56.4 million investment that speaks volumes about the future of downtown Atlanta and the changing face of commercial real estate finance.

Peachtree Group, an Atlanta-based investment firm, has originated this significant financing package for the redevelopment of the property, now rebranded as The CTR. The funding mechanism, however, isn't a traditional bank loan. It's a specialized form of capital known as Commercial Property Assessed Clean Energy (C-PACE), and its use in such a high-profile project marks a pivotal moment for urban regeneration.

This isn’t just a facelift; it's a fundamental reimagining. The project, led by developer CP Group, aims to transform the 1.2 million-square-foot structure from a single-purpose corporate fortress into a vibrant, mixed-use destination. The revitalization of its expansive retail atrium, modernization of core building systems, and installation of massive digital media displays are all designed to integrate the building seamlessly into the bustling fabric of Atlanta’s Sports and Entertainment District.

The Unlikely Hero: C-PACE in a Challenging Market

In a financial climate defined by what many analysts call a “higher-for-longer” interest rate environment and shrinking liquidity from traditional lenders, securing capital for large-scale redevelopment is fraught with challenges. A massive “maturity wall” looms, with trillions in commercial real estate debt coming due for refinancing at rates far higher than when the loans were originated. This has created a credit gap, forcing developers to seek out creative and resilient funding sources.

Enter C-PACE. Originally designed to help property owners fund energy-efficient upgrades, this financing tool has evolved into a powerful solution for complex projects. C-PACE loans are repaid through a special assessment on the property's tax bill over a long-term, fixed-rate period, often up to 30 years. The security of the tax lien allows for more favorable terms, and because the debt is tied to the property itself, it transfers to the next owner upon sale.

For The CTR, this financing is being used to fund a host of eligible green improvements, including new HVAC systems, advanced glazing, modern lighting, water-conserving plumbing, and energy-efficient LED media displays. These upgrades not only reduce the building’s environmental footprint but also lower its operating costs—a crucial factor for long-term financial viability.

“This financing demonstrates how C-PACE has evolved into a powerful capital solution for large-scale redevelopment projects that are remaking cities and repositioning landmark assets for the future,” said Jared Schlosser, head of originations and C-PACE for Peachtree Group. “Redevelopments of this scale require creative capital solutions. C-PACE is proving to be an effective tool for helping sponsors modernize properties, bridge capital gaps and position assets for long-term success.”

A Strategic Bet on Urban Regeneration

Peachtree Group's involvement is more than a one-off transaction; it's a reflection of a deliberate strategy. The firm specializes in identifying opportunities in what it terms “dislocated markets”—sectors where traditional capital has pulled back, creating mispriced risk and potential for savvy investors. With banks tightening lending standards, Peachtree has leaned into alternative financing, becoming a national leader in the C-PACE arena.

This deal is not their first major play. The firm has originated nearly $2 billion in C-PACE financing and was behind the largest retroactive C-PACE loan to date—a $176.5 million deal for the Rio Hotel & Casino in Las Vegas. Their deep expertise and advocacy, which included supporting the passage of Georgia’s statewide C-PACE legislation, position them as a key architect of this growing financial ecosystem.

“Today's commercial real estate market doesn't need more opinions. It needs more solutions,” noted Greg Friedman, CEO and managing principal of Peachtree Group. “Success today requires more than capital. It requires experience across origination, underwriting, servicing and asset management. That's where Peachtree's integrated platform is built to deliver solutions for borrowers, investors and partners.”

This philosophy is now taking physical form in the heart of Atlanta. The CTR’s revival is a key piece in a much larger puzzle of downtown renewal. It sits directly adjacent to the sprawling Centennial Yards project, a $5 billion mixed-use development rising from the historic Gulch that is creating an entirely new neighborhood. With a new food hall already open to serve crowds for events like the 2026 FIFA World Cup, The CTR is poised to become a central hub connecting State Farm Arena, Mercedes-Benz Stadium, and Centennial Olympic Park.

The transformation of the former CNN Center is a story about more than just a single building. It’s a case study in how innovative finance can meet ambitious urban vision. It demonstrates how to breathe new life into iconic structures, not by erasing their history, but by building a smarter, more sustainable, and more connected future upon it. As downtown Atlanta continues its ascent, the hum of activity at The CTR will no longer be about broadcasting the world’s news, but about creating a world-class destination for the city itself.