Holliday Fenoglio Fowler, L.P. (HFF) announces the sale of and financing for Village at Westfork, a 75,947-square-foot, Kroger-anchored neighborhood retail center in Lithia Springs, a suburb of Atlanta, Georgia.
Katz Properties, LLC purchased the asset free and clear of existing debt. Additionally, working on behalf of the new owner, the HFF team placed the 10-year, fixed-rate acquisition loan with Ladder Capital Finance.
Village at Westfork is the dominant grocery-anchored center, and there are only two other grocers within a three-mile radius of the property. The center is situated on 10.17 acres at 610-640 Thornton Road at the “main and main” intersection of Thornton and Maxham Roads in Lithia Springs. Completed in 1995 and renovated in 2006, Village at Westfork is fully leased to a variety of national and regional tenants, including Kroger, Kroger Fuel, Atlanta Wings, Cricket Wireless, Randstad Staffing, Top Nails, H&R Block, Enve Hair Salon and New China.
The HFF investment sales team representing the seller comprises senior managing directors Jim Hamilton and Richard Reid and associates Brad Buchanan and Mike Allison.
The HFF debt placement team representing the borrower includes senior director Chip Sykes.
“Village at Westfork represented a rare opportunity to acquire a dominant, high-performing Kroger-anchored shopping center in one of the fastest-growing submarkets of the Atlanta MSA,” Hamilton said.
About Katz Properties, LLC
Katz Properties, LLC is a real estate investment, development and management company primarily focused on the acquisition, operation and repositioning of grocery-anchored shopping centers. Established in Boston in 2003, the company has since expanded its footprint to include the entire East Coast and the Midwest. Katz Properties engages in strategic acquisitions and sales and has formed partnerships with public REITs, private equity groups and family offices. Learn more at http://katzproperties.com.
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. 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). For more information, please visit hfflp.com or follow HFF on Twitter @HFF.