Charlotte-based Asana Partners late-last week in a press release announced the acquisition of Krog Street Market and Atlanta Stove Works, two buildings in Atlanta’s Inman Park neighborhood previously owned and developed by Paces Properties.
The properties were listed for sale in September 2017.
“This investment deepens our commitment to Atlanta and expands our portfolio of authentic, walkable retail properties largely centered along the Atlanta BeltLine,” Brian Purcell, Managing Director at Asana Partners, said in the release.
Asana will invest capital to enhance the properties, building on the developments’ “appeal as central gathering places along the Beltline.”
Both buildings house Atlanta favorites like Superica, Jeni’s Splendid Ice Creams, Rathbun’s, and The Little Tart Bake Shop and retail and office tenants including The Merchant, Iris, and The Atlanta Beltline Partnership.
King & Spalding served as legal adviser to Asana Partners and Eastdil Secured served as an adviser to the seller.
“Acquiring Krog Street Market and Atlanta Stove Works fits our strategy of investing in urban shopping and dining locations that are closely connected to their surrounding neighborhoods…”
Asana also owns retail in Glenwood Park and is in the process of revitalizing its recently-acquired Plaza on Ponce development.
