Centurion Foundation Completes $95 Million Purchase of Northlake Mall Property

Project to revitalize property as Emory Healthcare becomes primary tenant

ATLANTA--(BUSINESS WIRE)--Centurion Foundation today announced the completion of its purchase of Northlake Mall in suburban Atlanta, including an adjacent building formerly occupied by Macy’s. The adjacent J.C. Penney site was not part of this transaction. The $95 million acquisition will transform the mall into a new Northlake Campus for Emory Healthcare, as the Atlanta-based healthcare system becomes its primary tenant through a long-term agreement with Centurion.

Emory Healthcare has had a presence at Northlake Mall since 2019, where the organization previously leased approximately 274,000 square feet. Under its new agreement with Centurion, Emory Healthcare will lease the entire property, providing significant opportunity to expand its footprint at the campus over time. In connection with the transaction, Centurion Foundation has approval to issue additional financing to support future development of the campus, providing long-term flexibility as Emory Healthcare’s programming needs evolve over time.

“This significant step in a transformative project demonstrates that our mission-oriented real estate model and expertise truly deliver for our nonprofit clients and the communities they serve,” said Ben Mingle, Chief Executive Officer and Chairman of Centurion Foundation. “We are proud to partner with Emory Healthcare, a vital Atlanta institution that cares for patients across our region. The new lease will enable Emory Healthcare to realize significant cost savings while providing long-term facility control and funding for future expansion on the Northlake Campus.”

This is the latest example of Centurion Foundation’s efforts to support mission-driven nonprofit institutions through strategic real estate, financing, development, ownership and facility solutions. The Foundation is committed to serving nonprofit partners in healthcare, higher education and other nonprofit sectors with creative, mission-aligned solutions that help institutions grow, adapt and deliver lasting impact.

About Centurion Foundation

Centurion Foundation is the nation’s leading 501(c)(3) organization transforming healthcare and higher education real estate. At the intersection of philanthropy and property ownership, we partner exclusively with mission-aligned organizations to reduce costs, enhance operational control, and unlock resources for their clients. Since 2018, Centurion’s innovative charitable lease model has facilitated over $2 billion in financings, delivering more than $2.2 billion in charitable impact across 62 properties with 22 clients nationwide, reducing rent expenses by up to 50%, eliminating property taxes, and minimizing balance sheet impact.