Coro Realty and Pope & Land Enterprises sold Brookside Station, the final asset of a three-property portfolio they purchased with partners M&P Shopping Centers and Atrium Group-Holland in 2020.
The joint-venture partners acquired the portfolio from Muntzing-Sattele in February 2020, a month before the COVID pandemic shuttered the global economy. It kept the properties open and afloat and executed value-add strategies in 2021 and 2022.
“This portfolio was another successful value-add retail investment and joint venture with Pope & Land,” said Trina Joseph, Managing Partner of Coro Realty. “We saw opportunities with the three centers, and despite headwinds the world has never seen, we were able to execute our program and exit ahead of schedule.”
Brookside Station is a 23,500-square-foot shopping center in Alpharetta on Old Milton Parkway. The partnership sold Town Center Oaks, a 52,000-square-foot retail center, to a private buyer in August 2022 and sold Mansell Oaks, a 43,000-square-foot neighborhood shopping center in Roswell, to Mimms Enterprises in November 2022.
Together, the centers represented almost 120,000 square feet of prime retail space in metro Atlanta’s rapidly growing and upper-income communities.
Coro Realty and Pope & Land will redeploy the capital opportunistically as they continue to diversify its portfolio geographically and by asset class.
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