Yale Realty Services Corp Affiliate Acquires Afton Ridge Retail For $49.2M

Afton Ridge, a 294,617-square-foot shopping center located at 6230 Bayfield Parkway in Concord, NC, has been sold for $49.2 million. The property was purchased by an affiliate of Yale Realty Services Corp in collaboration with an international family office. The financing for the acquisition was supported by a $29.6 million mortgage from MetLife. The sale was facilitated by buyer's representatives Bat Barber from Medalist Capital and Robert Altman from Altman Warwick Inc, while the seller's representatives were Mike Burkard and Steve Shields from CBRE.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $49,200,000
• Market: Concord, NC
• Buyer: Affiliate of Yale Realty Services Corp
• Buyer's Rep: Bat Barber - Medalist Capital & Robert Altman - Altman Warwick Inc
• Seller's Rep: Mike Burkard & Steve Shields - CBRE
• Lender: MetLife
• SF: 294,617
• PPSF: $167

The acquisition of Afton Ridge showcases the collaborative effort between Yale Realty Services Corp's affiliate and an international family office in securing a prominent retail asset. MetLife's provision of a substantial mortgage further underscores the financial backing behind this transaction.