Coro Realty Sells Stake in Inman Quarter
Real Estate Development and Investment Company Sells Stake in Class-A Mixed-Use Property to Partner TriBridge Residential
Atlanta (January 23, 2020) - Coro Realty has announced the sale of its ownership stake in Inman Quarter, a Class-A mixed-use development located in the heart of one of Atlanta’s most vivacious and eclectic in-town neighborhoods. TriBridge Residential, the other stake holder in the property, will take full ownership of the property through this sale.
TriBridge and Coro Realty purchased the three-phase development shortly after construction was completed in 2015. “We initially invested in Inman Quarter for long-term cash flow and capital appreciation. However, in line with our opportunistic investment strategy, when the chance arose to sell our stake to TriBridge at an attractive valuation, we took it,” said Robert Fransen, President of Coro Realty.
“Inman Quarter is generational real estate that epitomizes live-work-play along the Beltline,” said Steve Broome, Managing Partner at TriBridge. “As the top asset in our portfolio, it will anchor the TriBridge Perpetual Income (TPI) investment vehicle, a new long-term strategy focused on exceptional assets in exceptional locations.”
The Inman Quarter property is home to 200 apartments, 315-space public parking deck and 39,000 square feet of High Street, including neighborhood favorites Beetlecat, Bartaco and Hampton & Hudson.
While Coro Realty has sold its ownership, its affiliate, thoughtwell, will continue to oversee Inman Quarter’s retail leasing, while TriBridge will continue the high-quality management of this marquee mixed-use property.
About Coro Realty
Coro Realty was founded in 1997 and is synonymous with intelligent real estate development and investment. With a commitment to smart growth, the urban landscape and innovation, Coro Realty continues to demonstrate its leadership in the market with the successful execution of quality investments. It provides investment, asset management, leasing and property management for a myriad of commercial and residential properties throughout the Southeastern United States. Coro Realty oversees approximately 50 properties valued in excess of a billion dollars. For more information, visit cororealty.com
About TriBridge Residential
TriBridge Residential is a full-service multifamily investment, management, and development company based in Atlanta, GA, with over 6,000 units and $1 billion in assets under management. The firm focuses on markets in the Southeast and provides a vertically-integrated platform with a 25+ year track record through its subsidiaries and affiliates. Lee Walker, Steve Broome, Bobby West and Jim Schroder serve as the firm’s partners. For more information, visit www.tribridgeresidential.com
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Media contact
Thornton Kennedy
(404) 210-0363
