Branch Properties And Corebridge Real Estate Investors Secure $171.4 Million Loan For Retail Portfolio

The Southeast Grocery-Anchored Portfolio is an eight-property retail portfolio encompassing a total of 1,200,000 square feet. The properties included in this portfolio are located at the following addresses: 6730 Papermill Drive in Knoxville, TN; 6005 Stage Road in Bartlett, TN; 216 Palm Coast Parkway in Palm Coast, FL; 7208 Manatee Avenue West in Bradenton, FL; 5645 North Atlantic Avenue in Cocoa Beach, FL; 4101-4191 Tates Creek Road in Lexington, KY; 821-891 Dawsonville Highway in Gainesville, GA; and 3162 Johnson Ferry Road in Marietta, GA.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $171,400,000
• Lender: PGIM Real Estate
• Landlord: Jesse Shannon - Branch Properties & Douglas Tymins - Corebridge Real Estate Investors
• Brokers: Brian Linnihan, Mike Ryan, Richard Henry & Taylor Crowder - CBRE
• Loan Type: Refinance
• Market: Knoxville & Bartlett, TN; Palm Coast, Bradenton & Cocoa Beach, FL; Lexington, KY; Gainesville & Marietta, GA

Branch Properties and Corebridge Real Estate Investors secured the refinancing loan for the portfolio with CBRE facilitating the transaction. The loan will assist in managing the portfolio consisting of grocery-anchored retail properties across multiple states, aimed at enhancing their financial strategy and stability.