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| Shops of Forest Hill, Germantown, TN |
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| Jim Hamilton |
ATLANTA, GA –– Holliday
Fenoglio Fowler, L.P. (HFF) announced it has closed the sale of and arranged
acquisition financing for Shops of Forest Hill, a 343,855-square-foot community
center located in Germantown, Tennessee.
HFF marketed the center on
behalf of the seller, Boyle Investment Company and Milton Schaeffer. Epic Real Estate Partners purchased the asset
free and clear of existing debt. Additionally,
working on behalf of the new owners, HFF placed the five-year acquisition loan
with Wells Fargo Bank.
Shops of Forest Hill is a
community center located in Germantown, the most affluent suburb of Memphis,
and is anchored by Sprouts Farmers Market, Marshalls, Malco Cinemas and Target
(shadow).
The property is located on the “going home”
side of Poplar Avenue, Germantown’s main east-west corridor, and the average
household income within a one-mile radius of the property exceeds
$170,000.
Other national and
regional tenants at the property include Mattress Firm, Sally Beauty, Hallmark,
GNC, Mellow Mushroom, Allstate Insurance and Sherwin Williams.
The HFF investment sales
team representing the seller was led by senior managing directors Jim Hamilton and Richard Reid and
associates Brad Buchanan and Mike Allison.
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| Richard Reid |
“Shops of Forest Hill
offered investors the rare opportunity to acquire a dominant community center
with a dynamic tenant line-up and significant upside potential located in the
highly sought after Germantown suburb of Memphis, Tennessee,” Hamilton said.
For a complete copy of the company’s news release,
please contact:
Kristen M. Murphy
Director, Marketing
HFF | One Post Office
Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 |
Direct: 617-848-1572 | Cell: 617-543-4873 | www.hfflp.com
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