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LOGANVILLE, GA-DIM Vastgoed, NV has grown its 2.5-year-old Atlanta area retail portfolio to seven properties totaling 535,000 sf with the $13.5-million acquisition of Loganville Town Center. The 100%-leased, 77,661-sf shopping center is 25 miles east of Downtown Atlanta.

The publicly traded Dutch real estate fund paid Atlanta-based American Retail Partners LP $13.5 million, or $173.29 per sf, for the eight-year-old property anchored by a 51,420-sf Publix Supermarket. DBR Asset Management LLC, the Fort Lauderdale, FL-based firm that has advised DIM on all of its purchases, will manage the 15-tenant center as it does with DIM’s six other properties. The average asking gross rent range is $19 to $22 per sf, DBR’s Brian Mark tells GlobeSt.com.

The deal took “just over one month” to complete, from contract signing to closing, Mark says. “The acquisition of Loganville Town Center further solidifies our presence in the metropolitan Atlanta market,” says AJ Belt, DBR’s chief operating officer. “We believe that Atlanta is a prime area for growth and look forward to being part of this development.”

Cummings, Horsely & Maddox Inc. and the Shopping Center Group negotiated the deal for the seller.

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