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Press Release, May 10, 2017

ARA and Stonemar Properties Acquire Premier Entertainment-Driven Retail Asset

American Realty Advisors (“ARA”), an institutional capital management firm with more than $8 billion in assets under management, with its partner Stonemar Properties, a New York-based fully-integrated real estate investment and property management company, has recently acquired Ballantyne Village, a 171,559 square-foot mixed-use retail entertainment complex located in Charlotte, North Carolina.

“Ballantyne Village is a core mixed-use commercial asset located in one of the most pro-business cities in the U.S.,” says David Willett, Senior Director, Investment Group at ARA. “This is a best-in-market asset that is uniquely positioned to benefit from the region’s influx of high-paying jobs, robust demographics, and population growth - all of which will contribute to long-term value for our tenants and investors.”

Charlotte was recently ranked as the second fastest growing large city by the U.S. Census Bureau. The city is home to nearly 300 Fortune 500 companies, eight of which are headquartered in the region.

“Within a one-mile radius of the property, the average annual household income is in excess of $100,000 and 72% of adults in that radius hold a bachelor’s degree or higher,” explains Mr. Willett. “These are high-quality demographics that should sustain long-term demand for the high-end retail, service and entertainment options that Ballantyne Village offers.”

In addition, the asset is situated adjacent to Ballantyne Corporate Park, with more than four million square feet of office space, servicing over 360 companies who employ in excess of 10,000 employees.

“Ballantyne Village benefits from high traffic counts of nearly 80,000 vehicles per day and a strong daytime population from the four million square feet of office and hospitality space nearby,” says Mr. Willett.

Jonathan Gould, Co-Managing Member at Stonemar Properties, explains that Ballantyne Village is also well-aligned with the continued shift in consumer preferences towards more entertainment and experience-driven mixed-use shopping centers.

“Retailers and office users recognize the importance of providing unique experiences and this asset is perfectly positioned with its internet-resistant tenants to deliver,” says Mr. Gould.

The mixed-use property incorporates more than 13 food and beverage options, various personal service providers, two schools, a significant office component, and outdoor gathering spaces and social areas for events such as live music, children’s activities, and art programs.

“There is no other product like Ballantyne Village in Charlotte,” notes Greg Guido, also a Co-Managing Member at Stonemar Properties. “Stonemar believes this asset represents the future of retail and mixed-use centers with a true village-like atmosphere: it provides the ultimate experience for shoppers and office tenants. Importantly, it will continue to garner strong foot traffic and retailer demand as we make meaningful improvements over the next few years in order to transform it into more of a high-demand community and family-oriented location for working, shopping, eating, and socializing. We are confident it will be an attractive and stable opportunity for our investors.”

In addition, ARA and Stonemar Properties are pleased to be working together on Ballantyne Village, according to Mr. Willett at ARA.

 “We are excited to be teaming up with Stonemar Properties on this acquisition. By combining our institutional investment expertise with Stonemar’s entrepreneurial mindset, we can continue to drive value to this asset and to our investors.”

Ballantyne Village is located at 14825 Ballantyne Village Way in Charlotte, North Carolina. The seller, MV Ballantyne Village, LLC, was represented by Rob Carter, David Webb, Rad von Werssowetz, and Alex Quarrier of Berkeley Capital Advisors.

ABOUT AMERICAN REALTY ADVISORS

With more than $8 billion in assets under management, ARA is a leading provider of commercial real estate investment management services.  For over 28 years, ARA has managed capital for institutional investors utilizing core and value-added commingled funds and separate accounts. ARA acquires assets directly or provides equity, preferred equity, mezzanine debt, debt, and hybrid debt to primary investors and developers operating throughout the United States for office, industrial, multi-family, and retail properties. 

ABOUT STONEMAR PROPERTIES

Stonemar Properties is a fully-integrated real estate investment and property management company founded in 2003 and headquartered in New York City. It acquires and manages well-located, high-potential assets in leading primary and secondary markets throughout the United States. The company’s current portfolio is comprised of nearly 1.5 million square feet of institutional-quality real estate. More information on Stonemar can be found at www.stonemarproperties.com.

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