Cushman & Wakefield announced today that the firm’s Equity, Debt & Structured Finance (EDSF) team has arranged a $72 million loan on behalf of Jamestown for the refinancing of Parkside Shops and Hammond Exchange, two adjacent grocery-anchored retail centers totaling more than 340,000 square feet in Sandy Springs, Georgia. The floating-rate financing was secured from accounts managed by global investment firm KKR.

Cushman & Wakefield's John Alascio, Alex Hernandez, Alex Lapidus, Mitch Rothstein and Nick Scibelli, as well as Retail Advisory Group head, Mark Gilbert, represented Jamestown in the financing.

Located at the intersection of Roswell Road and Hammond Drive, Parkside Shops and Hammond Exchange are premier retail destinations in Sandy Springs, an affluent northern suburb of Atlanta. The properties are anchored by a 49,506-square-foot Whole Foods Market, alongside a complementary mix of national retailers, restaurants, entertainment concepts and fitness users including Marshalls, HomeGoods, Petco and The Springs Cinema & Taphouse.

Jamestown acquired the properties in 2018 and has since implemented a strategic placemaking initiative that transformed the asset into a vibrant community hub. Through capital improvements, curated leasing efforts and the acquisition of an adjacent outparcel, the firm has enhanced merchandising, increased visitation and positioned the property for future mixed-use redevelopment opportunities. Situated less than one mile from Interstate 285 and approximately 15 miles north of Downtown Atlanta, the properties serve one of the region's most affluent and rapidly growing trade areas.

“Parkside Shops and Hammond Exchange represent one of the premier grocery-anchored retail destinations in Metro Atlanta, combining a dominant Whole Foods anchor, a highly curated tenant mix and an irreplaceable location in the heart of Sandy Springs,” said Gilbert, Cushman & Wakefield Vice Chair.

Alascio added, “Jamestown's vision and stewardship have transformed the properties into a true community gathering place, driving tenant demand while creating a compelling long-term growth story. The combination of strong in-place performance, future value-add initiatives and institutional-quality sponsorship generated significant lender interest and allowed us to secure an attractive financing solution, including a facility to provide funding for additional improvements, which will solidify the assets’ position in the market for years to come.”