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HFF secures $11.5 million acquisition financing for Publix-anchored retail center near Atlanta

06/01/2017

ATLANTA, GA – June 1, 2017 – Holliday Fenoglio Fowler, L.P. (HFF) announced today that it has secured $11.5 million in acquisition financing for Castleberry Southard, a dominant 80,018-square-foot, Publix-anchored neighborhood retail center in the affluent Atlanta submarket of Cumming, Georgia.

HFF worked on behalf of the borrower, New Market – Castleberry, LLC, a wholly-owned subsidiary of New Market Properties, LLC, to place the 10-year, fixed-rate financing with Principal Global Investors. HFF brokered the sale of this property to the borrower in a previously announced transaction.

Located at 5475 Bethelview Road in Cumming, Castleberry Southard is situated at the “main and main” intersection of Castleberry and Bethelview Roads in one of the most affluent and fastest-growing submarkets in the Atlanta area.  More than 38,000 residents earning an average annual income of more than $110,000 live within a three-mile radius of the center.  Built in 2006, Castleberry Southard is 92 percent leased to a variety of tenants, including Publix, The UPS Store, Subway, H&R Block and Huntington Learning Center.

The HFF debt placement team representing the borrowers was led by senior managing director Ed Coco and associate Matt Casey.

“The acquisition of Castleberry Southard adds another high-quality, market-leading grocery-anchored shopping center to the New Market Properties’ portfolio, and we were pleased to arrange financing to support New Market’s business strategy,” Coco said.  “The pace of growth and residential development in the immediate area will only benefit the property and enhance the investment in the years to come.”

About New Market Properties
New Market Properties, LLC (New Market), based in Atlanta, Georgia, is a wholly-owned indirect subsidiary of Preferred Apartment Communities, Inc. (NYSE: APTS), and is focused on the grocery-anchored shopping center sector.  New Market currently owns and operates a portfolio of 32 grocery anchored shopping centers in seven Sunbelt states, and its strategy is to aggressively grow this existing portfolio in the Mid-Atlantic, Southeast, Florida and out through Texas.  Learn more at newmarketprop.com.

About HFF
Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, “HFF”), HFF Securities L.P. and HFF Securities Limited (collectively, “HFFS”) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF.

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