FORGE ANNOUNCES ACQUISITION OF NAPLES LAKES VILLAGE CENTER AND KENNESAW WALK
Forge Real Estate Partners IV, LP, a joint venture between Forge Capital Partners and The Sembler Company, has acquired two Publix-anchored shopping centers, Naples Lakes Village Center and Kennesaw Walk.
Naples Lakes Village Center is a 59,863 square foot shopping center located in Naples, Florida. According to the US Census Bureau, the Naples MSA was in the top 5% fastest-growing MSAs from 2010 to 2017. Surrounding the property are dense and growing residential communities with over 3,500 units planned or under construction at the time of closing.
Kennesaw Walk is a 68,744 square foot shopping center located in Kennesaw, Georgia, a northwestern suburb of the Atlanta MSA. The property is on the going-home side of a heavily traveled commuter route and well situated to benefit from continued growth in the area.
Forge Capital Partners is a diversified, commercial real estate investment and investment management company. Forge has built a solid track record as an acquirer and operator of commercial real estate, specializing in socially responsible projects throughout the Southeast. Since 2000, Forge and its principals have successfully sponsored and managed four real estate oriented, closed-end private equity funds, and executed over a billion dollars in retail and multifamily real estate transactions.
The Sembler Company, formed in 1963, is one of the premiere full-service real estate companies in the United States. Specializing in commercial retail development, Sembler has developed over 300 properties throughout the Southeast and Puerto Rico, consisting of 27 million square feet and including 44 Publix-anchored centers and 25 Target-anchored centers. The company currently manages and leases over 10 million square feet of company owned and third party retail properties.