FORGE ANNOUNCES SALE OF MERCHANTS SQUARE
Forge Real Estate Partners IV, LP, a joint venture between Forge Capital Partners and The Sembler Company, is pleased to announce the sale of Merchants Square, a 118,984 square foot grocery anchored shopping center located in Riverdale, Georgia, a residential suburb of Atlanta.
Merchants Square is anchored by a strong performing Kroger supermarket and the remaining spaces are leased to a diverse mix of internet-resistant service, restaurant, and retail uses such as USPS, Pizza Hut & Rent a Center. The property is well positioned along Georgia Highway 85, a regionally accessible thoroughfare which provides access to Interstate 75, connecting south Atlanta residential communities to the central business district. The Fund acquired the property in December 2019 and added value by upgrading the tenant mix and conducting significant capital improvements. The property was sold at 99% occupancy to Essential Growth Properties out of Cincinnati, Ohio.
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.