New Market Properties Acquires Grocery-Anchored Shopping Center in Metro Atlanta

by Katie Sloan

Cumming, Ga. — New Market Properties LLC, a subsidiary of Preferred Apartment Communities Inc., has acquired Castleberry-Southard, an 80,018-square-foot, grocery-anchored shopping center located in the Atlanta suburb of Cumming.

A 45,600-square-foot Publix anchors the property. The company financed the acquisition through an $11.5 million, non-recourse first mortgage loan from Principal Life Insurance Co. The seller was undisclosed. 

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