Two Atlanta properties, one including a city landmark, have changed hands.
Plaza on Ponce and the Morningside Village shopping center have been sold for $36.1 million and $31.4 million, respectively, Atlanta Business Chronicle reports. North Carolina-based Asana Partners sold the properties to 26th Street Partners.
Plaza on Ponce includes Plaza Theatre, the city’s oldest independent movie theater. It will remain at the center with a long-term lease, according to the news outlet.
26th Street Partners is an Atlanta-based real estate investment company with a focus on the Sunbelt.
It is a relatively new firm – it was founded in 2023 – but the founders have extensive real estate experience. According to the website, the three recently “departed senior executive roles at a vertically integrated real estate private equity and development firm.” LinkedIn indicates that this firm was Jamestown.
