Coro Realty Advisors Closes $11,000,000 Loan for Georgetown Shopping Center Expansion with ING Investment Management
ATLANTA, GA - Coro Realty Advisors, LLC announces the refinancing of Georgetown Shopping Center, located at 4478 Chamblee Dunwoody Rd., Dunwoody GA 30338. Georgetown Shopping Center currently consists of 132,681 square feet anchored by Kroger, Tuesday Morning and Workout Anytime.
The $11 million loan will be used to refinance the existing indebtedness on the property and to fund various physical improvements. The improvements will consist of expanding the center to 144,360 square feet, expanding Kroger from its current 48,000 square feet to 70,500 square feet, relocating several tenants, improving the parking lot and aesthetic improvements.
Coro Realty’s affiliates have owned Georgetown Shopping Center since 1977. The owner, Georgetown Shopping Center, LLC, consummated the 10 year loan with the intent to hold the center for further long-term appreciation. According to Robert Fransen, Coro Realty’s Executive Vice President, “the combination of 10-year debt and attractive interest rates will enable us to not just stabilize, but to materially improve the long-term value and cash flow of this attractive asset.” John Lundeen, Coro Realty’s President added, “we are pleased that both ING Investment Management and Kroger recognized our vision for the shopping center’s long term potential and are working to help us realize that vision.”
Coro Realty Advisors, LLC was founded in 1997 and is synonymous in Atlanta and throughout the Southeast with intelligent real estate development and investment. With a commitment to smart growth, the urban landscape, and innovation, incorporating distinctive architectural designs and the latest in building trends and technology, Coro continues to demonstrate its leadership in the market with the successful execution of quality developments. The firm provides Asset Management, Property Management and Real Estate Advisory Services for a myriad of residential and commercial properties throughout the Southeastern United States.
For More Information Please Contact:
Coro Realty Advisors, LLC.
3715 Northside Parkway
400 Northcreek – Suite 100
Atlanta, Georgia 30327