ATLANTA—Branch Properties is closing out the year with heavy deal flow. The Atlanta-based real estate investment firm just acquired two notable retail assets in an eight-day span.
Specifically, Branch snapped up City Walk in Sandy Springs, TN for $24.53 million,
nearly half of its 2007 sale price, in a special servicer-managed REO sale. Branch also acquired the shadow retail portion of Merchant's Festival in East Cobb from Target Corporation for $13.17 million.
City Walk is a 168,100-square foot, Kroger-anchored shopping and dining destination located on Sandy Springs Drive between Hammond Drive and Sandy Springs Place. The retail center is 71% leased. Only 50% of the shop space is currently filled with a mix of soft goods, service providers and restaurants.
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