Parkside Shops and Hammond Exchange, the adjacent retail centers at Roswell Road and Hammond Drive, secured $72 million in refinancing backed by global investment firm KKR.

Cushman & Wakefield arranged the floating-rate loan on behalf of Jamestown, the Atlanta-based firm behind Ponce City Market that bought the two Sandy Springs properties in 2018, according to Metro Atlanta CEO. Part of the loan includes a facility earmarked for additional property improvements.

The two centers total more than 340,000 square feet across about 25 acres. Parkside Shops accounts for 158,400 square feet and Hammond Exchange for 176,000 square feet, according to REBusinessOnline. A 49,506-square-foot Whole Foods Market anchors the property, joined by Marshalls, HomeGoods, Petco and The Springs Cinema & Taphouse.

Mark Gilbert, vice chair at Cushman & Wakefield, called the centers a top grocery-anchored retail destination in metro Atlanta, citing the Whole Foods anchor and the property's location in the heart of Sandy Springs.

Since acquiring the properties, Jamestown has invested in capital improvements, new leasing and the purchase of an adjacent outparcel. The firm has positioned the site for what the announcement describes as future mixed-use redevelopment opportunities. No timeline has been set. No zoning application or construction schedule has been disclosed.

John Alascio, who led the Cushman & Wakefield financing team, said the deal includes funding for upgrades that "will solidify the assets' position in the market for years to come." The team also included Alex Hernandez, Alex Lapidus, Mitch Rothstein and Nick Scibelli.

The properties sit less than one mile from Interstate 285. Neither Jamestown nor the city of Sandy Springs has announced public meetings or next steps tied to the refinancing or any redevelopment plans.