Preferred Apartment Communities’ $158M Shopping Spree
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Thompson Bridge Commons, Atlanta
Atlanta—Preferred Apartment Communities Inc.,through its wholly owned subsidiary New Market Properties LLC, has acquired seven grocery-anchored shopping centers consisting of a total of 650,400 rentable square feet, for $158 million.
The shopping centers are located in Georgia, Florida, Texas and North Carolina.
“This is a transformative transaction for us in that we now own 30 grocery-anchored centers across seven states, consistent with our strategy of acquiring well-positioned grocery-anchored centers in suburban Sunbelt markets anchored by strong market leaders,” Joel Murphy, New Market Properties president & CEO, said in a prepared release. “We are also excited about our initial expansion into both the North Carolina and South Florida markets.”…
