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Atlanta & Southeast  + Atlanta Metro  + Retail  | 
Essential Growth Properties has secured $13.5 million in acquisition financing for Merchants Square in Riverdale, GA.

Essential Growth Properties Secures $14M to Purchase Kroger-Anchored Center in Riverdale

Essential Growth Properties has secured $13.5 million in acquisition financing for Merchants Square, a Kroger-anchored property in Riverdale, GA.

Sunny Sajnani of IPA Capital Markets in conjunction with Duke Dennis of Marcus & Millichap Capital Corporation placed a five-year, 65% levered, non-recourse financing. The Merchants Square financing was secured with a fixed rate and an 18-month interest- only period.

“IPA has been able to secure very attractive bank financing terms for EGP even in this turbulent credit cycle,” said Sajnani. “These financings continue to illustrate that grocery-anchored retail continues to be a favored product type even in a rising interest rate environment.”

Cincinnati, OH-based Essential Growth Properties has partnered with IPA Capital Markets on eight deals in 2022. Its investment strategy is focused on acquiring stabilized assets with opportunities to create value via lease restructuring and tenant merchandising.

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Inside The Story

IPA Capital Markets' Sajnani

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

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