Monarch Investments Refinances Two Properties in Atlanta
ReadyCap Commercial, L.L.C. provided debt financing for both transactions and Grandbridge Real Estate Capital arranged the financing and facilitated the deals.
Monarch acquired both properties in 2012 and undertook a successful repositioning and leasing program over the past two years. Monarch was able to take both properties to 100% leased status before refinancing.
Stephen M. LaMastra, Managing Principal of Monarch, stated “Monarch is very proud of our ability to refinance these properties so soon after acquiring them, which demonstrates the significant value we were able to add in a very short period. Just as important, we were able to return all of our initial investors’ equity capital which is a significant accomplishment for us and provided an exceptional return on equity for our investors.”
Monarch and its affiliates currently own over a dozen retail centers throughout the southeastern U.S. and the company plan to acquire over $200 million of retail properties this year alone and $500 million by 2016. The company currently owns and manages well over one million square feet of retail space.
Monarch co-founder Moshe Manoah adds, “The Company was able to double the investment made by its equity partners and we were able to provide a huge return on investment for our partners while improving the property at the same time. This turnaround approach is a hallmark of Monarch’s strategy of providing excellent investor returns.”
Monarch Investments Group owns numerous other retail properties in the greater Atlanta area and throughout the southeastern U.S. Monarch is an affiliate of Atlanta-based Crown Holdings Group, founded in 2009 by Manoah and Blair Schlossberg. Crown has investments in retail, multi-family, office, residential and mixed-use properties. Crown and its affiliates have acquired over $500 million worth of assets over the past several years and plan to acquire over $1 billion worth of properties over the next three years.
Monarch Investments is actively seeking retail shopping centers located in the United States. Please contact Stephen M. LaMastra at (770) 391-1233 for more information.