Burton Property Group And Peaceable Street Capital Close $123M Recapitalization Of Alabama Shopping Center Portfolio
2550 Mckenzie Street, 2140 S. Mc Kenzie St., Foley, Al 36535, 2140 Mckenzie Street & 7765 Airport Blvd., Mobile, Al 36608
$123,000,000
$39/SF
Building Size
785,000 SF
Asset Type
Retail
Closing
Sep 3, 2025
About this deal
AI
A recapitalization loan of $123,000,000 was secured for a four-property shopping center portfolio in Foley, Alabama, comprising a total square footage of 785,000. The properties are situated at 2550 McKenzie Street, 2140 S. McKenzie St., Foley, AL, 6850 U.S. Highway 90, and 7765 Airport Blvd., within the Foley, Daphne & Mobile, AL market. The portfolio is reported to be 98% leased.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $123,000,000
- Loan Type: Recapitalization
- Landlord: Burton Property Group & Peaceable Street Capital
- Brokers: Jim Hamilton, Brad Buchanan & Andrew Michols - JLL
The transaction was facilitated by Burton Property Group and Peaceable Street Capital, who were instrumental in closing the recapitalization deal with the associated brokers from JLL, including Jim Hamilton, Brad Buchanan, and Andrew Michols.
On the Map
$123,000,000
$39/SF
Retail
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Players
Foley Retail Market Snapshot
Boundary boundary · Retail · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93