Monarch Investments Group Sells Chapman Ford Crossing
Monarch acquired Chapman Ford at the end of 2012, and undertook a successful repositioning and leasing program, during which it increased occupancy at the center by about 40% in just over two years.
Stephen M. LaMastra, Managing Principal of Monarch, stated that “Monarch is very proud of our ability to improve, reposition, and sell this property so quickly and successfully, only two and a half years after acquiring it. We were able to create a great atmosphere for our tenants, and provide a great return on capital for our investors.”
Monarch co-founder Blair Schlossberg adds that the company was able to more than double the investment made by its equity partners, and that “we were able to provide huge returns for our partners, in a successful approach that is a hallmark of Monarch’s strategy of providing strong 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 Schlossberg and Moshe Manoah. As Manoah added, “Chapman Ford was the largest shopping center acquired by Monarch at the time we acquired it, and we are pleased to have had such great success with one of our early acquisitions.”
LaMastra also points out that Monarch and its affiliates have acquired over a dozen retail properties in the last two years alone, and have acquired over 20 properties overall. Monarch and its affiliates have also invested over $300 million and over 2 million square feet of retail and other properties in recent years, and LaMastra adds that “we have plans to grow to over 4 million square feet under ownership and management by 2017. So we will continue to be active and acquisitive over the next few years.”
Monarch ([email protected]) is actively seeking to acquire properties throughout the southeastern U.S.