Jamestown has closed on a refinancing of the Parkside Shops and Hammond Exchange retail centers in Sandy Springs, securing a $72 million floating-rate loan from accounts managed by KKR. The new financing replaces existing debt on the properties, with Cushman & Wakefield arranging the loan on Jamestown’s behalf.
The two shopping centers comprise more than 340,000 square feet of commercial space at the intersection of Roswell Road and Hammond Drive, just south of City Springs. The properties serve as a prominent retail destination in Sandy Springs, benefiting from visibility at a well-trafficked corner and a broad lineup of tenants.
Whole Foods anchors the combined retail offering, supported by a range of national and local retailers. The tenant roster includes Marshalls, HomeGoods, Petco, and The Springs Cinema & Taphouse, among others, reinforcing the centers’ position as a daily needs and entertainment hub for the surrounding community.
Jamestown originally acquired Parkside Shops and Hammond Exchange in 2018, paying a combined $93.85 million for the two properties. The new loan from accounts managed by KKR provides updated capital structure on the assets roughly eight years after that investment, aligning the centers with current debt market conditions.
According to reporting from The Atlanta Business Chronicle, Jamestown has positioned the properties to accommodate potential future mixed-use redevelopment opportunities. While no specific redevelopment plan was detailed, the centers’ scale and location near City Springs offer flexibility for evolving use over time, alongside their existing retail function.
Cushman & Wakefield advised Jamestown on the refinancing execution. The firm’s team was led by John Alascio, who worked with colleagues Alex Hernandez, Alex Lapidus, Mitch Rothstein, Nick Scibelli, and Mark Gilbert to represent Jamestown in arranging the new loan. Their mandate included sourcing the floating-rate financing from accounts managed by KKR and structuring the debt package to support Jamestown’s ongoing business plan for Parkside Shops and Hammond Exchange.
The transaction underscores continued lender interest in grocery-anchored retail centers with established tenant lineups and strong locations. By completing the refinancing, Jamestown extends its runway on the Sandy Springs assets while maintaining optionality for future mixed-use or repositioning strategies as market conditions evolve.
