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Asana Spins Off 2 Atlanta Retail Centers
Asana Partners sold the Plaza on Ponce and Morningside Village shopping centers in separate transactions for a combined price of $67.5 million. Atlanta-based 26th Street Partners was the buyer.
The Atlanta Business Chronicle reported that the Majestic Diner and Plaza Theater signed long-term leases at Plaza on Ponce before the sale.
Asana entered the Atlanta market in 2017 with its purchase of Plaza on Ponce, a historic shopping center on Ponce de Leon Avenue. It paid $18.1 million in 2017. It recently sold for $36.1 million.
Asana bought Morningside Village in 2018 for $21 million. The center spans two sides of North Highland Avenue and includes tenants such as The Family Dog. The property just sold for $31.4 million.
- ◦Sale/Acquisition
