LOGANVILLE, GA-DIM Vastgoed NV, a publicly traded real estate fund in the Netherlands that has acquired $55 million of commercial real estate in metro Atlanta over the past 18 months, has increased its portfolio with the $13.6-million purchase of Grayson Village in a high-growth residential area 15 miles east of Downtown Atlanta.
The Dutch firm paid Grayson Village LLC a premium $164 per sf for the two-year-old, 83,154-sf, 93%-leased shopping center which is anchored by a 44,270-sf Publix Supermarket. DBR Asset Management LLC of Fort Lauderdale negotiated for DIM and will manage Grayson Village, along with DIM's four Atlanta properties.
"Grayson Village is in a part of metropolitan Atlanta where we have been extremely successful and we believe that our acquisition of the property will enable us to strengthen our position in the area," says AJ Belt, chief operating officer of DBR Asset Management. "DIM Vastgoed is committed to acquiring properties that are primed for growth and expansion."
Atlanta-based Cummings, Horsely & Maddox Inc. and Wilson & Nolan Co. represented the sellers in the transaction. The deal took 60 days to complete, from contract signing to closing. The property was never on the market. The buyer dealt directly with the seller.
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