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Publix-Walmart-Anchored Portfolio Trades Hands

ATLANTA—The HFF senior managing director Jim Hamilton tells GlobeSt.com the portfolio was “highly contested.”

By Jennifer LeClaire | jenniferleclaire | | Updated on May 20, 2016
“The portfolio allowed the buyer to acquire a critical mass of six high-volume, grocery-anchored centers with an established tenancy.” “The portfolio allowed the buyer to acquire a critical mass of six high-volume, grocery-anchored centers with an established tenancy.”
ATLANTA—A six-property retail portfolio spanning 535,252 square feet has traded hands. The grocery-anchored retail assets are located in Georgia, Alabama, and South Carolina. The purchase price: $68.7 million Publix anchors five of the retail assets . Walmart anchors the sixth one. The HFF senior managing directors Jim Hamilton and Richard Reid represented the seller. HFF senior managing director Ed Coco represented the borrower in debt placement. “The Southeast Grocery Portfolio was highly contested and consisted of six properties with an established mix of strong performing grocers, which provided investors scale and geographic diversity throughout the southeast,” Hamilton tells GlobeSt.com. “The portfolio allowed the buyer to acquire a critical mass of six high-volume, grocery-anchored centers with an established tenancy.” InvenTrust Properties Corp sold the retail assets to Preferred Apartment Communities , through its retail subsidiary New Market Properties . Working on behalf of the new owner, HFF also placed four separate fixed-rate acquisition loans. Two properties were purchased in all-cash transactions. “We are delighted to add 5 more Publix anchored centers and 1 Wal-Mart Supercenter anchored center to our growing Sunbelt portfolio,” says Joel T. Murphy , president and CEO of New Market Properties . “We now own 21 grocery-anchored centers consistent with our strategy of acquiring well-positioned grocery-anchored retail centers in suburban Sunbelt markets anchored by strong market leaders The retail portfolio is 96% occupied. The retail assets include Anderson Central and Fairview Market in Greenville-Spartanburg, South Carolina; Rosewood Shopping Center in Columbia, SC; East Gate Shopping Center and Fury’s Ferry in Augusta, GA; and Southgate Village in Birmingham, AL.

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