Acquisitions

TUCKER, GA. — Centurion Foundation, an independent nonprofit organization that specializes in real estate and financing solutions for the healthcare and higher education sectors, has acquired Northlake Mall, a nearly 1 million-square-foot shopping center in the Atlanta suburb of Tucker, from Dallas-based ATR Corinth Partners. Following the $95 million acquisition, Northlake Mall will be transformed into an expanded campus for Emory Healthcare. Emory has leased approximately 274,000 square feet of space at the mall for administrative and clinical operations since 2019 and will soon lease most of the property. The sale includes the main mall structure, as well as Emory’s existing offices on the campus and an adjacent building occupied by Macy’s, which will close this year. The acquisition did not include the former JCPenney site that has remained vacant since the department store closed in 2020. Centurion Foundation also has approval to issue additional financing to support future development of the campus, providing long-term flexibility as Emory’s programming needs evolve over time. ATR Corinth Partners acquired the majority of the Northlake Mall campus in 2016 from Indianapolis-based mall giant Simon Property Group. The mall dates back to 1971.