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Ardent Picks Up Perimeter Retail Property, to Add Apartments
The Ardent Companies acquired Perimeter Pointe, a 360,000-square-foot retail property located in the heart of Atlanta’s Perimeter market for $48 million. SITE Centers was the seller.
Plans are underway for Ardent to reposition the shopping center into a mixed-use destination.
Ardent’s mixed-use redevelopment strategy includes a strategic lease-up of vacant space, remerchandising the existing tenant mix, and a multifamily community.
Over the past twelve-plus months, Ardent has acquired more than $115 million in six ground-up mixed-use development and redevelopment projects across the Southeast. These projects also include an additional $350 million of future development.
Last week, the firm announced the sale of the final parcel of a 268,000-square-foot mixed-use redevelopment in Roswell, Georgia, which transformed an underperforming shopping center into a fully leased live-play-work destination. Since 2012, the firm has capitalized $3.5 billion across 140 equity investments.
- ◦Sale/Acquisition
- ◦Development
