Optimum Bank Provides $27M Acquisition Loan for Distressed Atlanta-Area Office
Pacific Oak REIT sold a two-building, 500,000-square-foot office complex to Alkamy Capital for $38 million
By Brian Pascus December 1, 2025 12:12 pm
reprints
Alkamy Capital has secured $26.5 million in acquisition financing to purchase Crown Pointe, a two-building, Class A office complex in Dunwoody, Ga., just outside of Atlanta, that spans more than 500,000 square feet, Commercial Observer can first report.
Bisnow reported earlier this month that Pacific Oak REIT sold Crown Pointe to Alkamy Capital in a distressed sale for $38 million, despite the property carrying $54.7 million of outstanding debt.
Optimum Bank provided the financing for the acquisition, while Meridian Capital Group’s David Hayum and Michael Farkovits arranged the deal on behalf of Alkamy Capital.
Meridian’s Hayum said in a statement that the office property carries “strong fundamentals” and that Alkamy Capital brings a “depth of experience” to the new ownership of the asset.
“This transaction required a lender willing to dig deep and understand the finer nuances of the business plan,” said Hayum. “Their thoughtful approach was critical in structuring a financing package aligned with the sponsor’s vision.”
Located at 1040 and 1050 Crown Pointe Parkway in Dunwoody — a suburb about 15 miles north of downtown Atlanta — Crown Pointe initially opened in 1985 and is approximately 509,792 square feet. One tower stands 10 stories tall and another reaches 18 stories.
The office campus is near the Sandy Springs MARTA Station and is connected to both Downtown Atlanta and Hartsfield Jackson International Airport by Interstate 285.
Meridian told CO that Alkamy Capital is a new opportunistic fund led by the husband and wife team of Moshe Popack and Yaffa Popack, as well as Gavriella Factor.
Crown Point will be managed by YMP Real Estate Management, a firm the Popacks founded 15 years ago in Fort Lauderdale, Fla.
Alkamy Capital did not respond to requests for comment.
Correction: An earlier version of this story noted that Alkamy Capital holds $1 billion in assets and a real estate portfolio of 1.6 million square feet. These numbers reflect CEO Moshe Popack’s career, not the firm’s current assets. Moreover, Alkamy Capital is not a rebrand of YMP Real Estate Management but a wholly separate entity, while YMP Real Estate Management is the management company for Crown Point.
Brian Pascus can be reached at bpascus@commercialobsesrver.com.
