ALTO Real Estate Funds has Acquired Two Shopping Centers in Dallas MSA and Atlanta MSA for $51 Million

US Commercial property investment reached a record high in 2021. Dallas and Atlanta are in the Top US Market Ranks

DALLAS--(BUSINESS WIRE)--Conyers Plaza is a 171,374 SF, 96% occupied shopping center located in Conyers, GA, 25 miles east from downtown Atlanta. The acquisition was financed by Wells Fargo with a five-year loan, at a fixed rate of 3.86%. The high occupancy and attractive financing are expected to result in an average cash-on-cash return of 12%-15% over the holding period.

Conyers Plaza is the dominant shopping center in its submarket due to its location at the highest trafficked intersection of Hwy 138 and I-20 with over 152,000 VPD. The center benefits from over 4 million visitors a year, making it the most visited shopping center in a 15-mile radius.

Conyers anchor tenants are PetSmart, JoAnn, Party City and Value Village. The center is shadow anchored by Walmart Supercenter, The Home Depot, and Office Depot.

Atlanta MSA is the 2^nd fastest growing MSA in the nation and is ranked #3 year over year in job growth for major U.S metros. Atlanta is expected to add 2.5 million jobs by 2040. In 2021, Atlanta ranked second in the country in real estate investments with more than $37B.

Craig Crossing is a 128,394 SF, 89% occupied shopping center located in Mckinney, Texas, the epicenter of the Dallas boom. The acquisition was financed by City National Bank with a five-year loan at a fixed rate of 4.1%.

Craig Crossing anchor tenants include Club 4 Fitness, Chair King, Boot Barn and Half Price Books. Other tenants include Sola Salon, Mattress Firm, Panera Bread, AT&T, and Fuzzy’s.

The property is located in McKinney, one of the fastest growing suburbs of north Dallas, and benefits from the highly affluent demographics in the surrounding area. Dallas/Fort Worth (DFW) Metroplex is the 4^th largest MSA’s in the U.S. During the past decade, DFW Metroplex, has recently experienced an unprecedented inflow of people and companies’ relocation from other top markets.

In 2021, Dallas soared to the top of the list in real estate investments with approx. $47B, represents a level 77% above the market’s prior record high.

The center benefits from superior visibility off Central Expressway (Hwy 75). Traffic counts for Hwy 75 and Eldorado Pkwy total more than 163,220 VPD.

Mody Kidon, Co-Founder and active Chairman and Yaniv Melamud, Co-Founder and CEO "We are excited with the latest acquisitions by ALTO Fund 3 which are in line with the Funds strategy to invest in open-air shopping centers in fast-growing territories in the US. We are confident that the new acquisitions will be a great addition to the ALTO Fund 3 portfolio and will yield attractive returns and cash flows to our investors".

ALTO Real Estate Funds has invested in 72 properties with a total value of $1.3 billion and a total of 14 million SF. ALTO investment strategy focuses on investments in ground-up development and management of industrial properties and open-air shopping centers in 12 fast-growing territories in the US.