Lemonade, an investment arm of Madison Marquette that specializes in "surplus retail acquisition" has acquired a portfolio of 144 properties from affiliates of Charlotte-based Truist Bank.
The properties in the bank portfolio were sold for a wide range of prices—from close to $1M to as low as $10K, but the company declined to specify the total transaction value. The outlets are in Florida, Georgia, Alabama, Tennessee, South Carolina, North Carolina, Virginia and Maryland.
According to its website, Lemonade focuses on portfolios of vacant or soon-to-be vacant corporate-owned properties that are single-tenant, stand-alone retail outlets.
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