New Forum Partners Acquires Fourth Property 

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New Forum Partners has announced its latest acquisition of Mountain Plaza, a 34,000 square-foot shopping center located in Kings Mountain, North Carolina. 

Mountain Plaza is located approximately 25 miles outside of Charlotte off I-85. Anchors include Food Lion, Dollar Tree and Sunway (outparcel). The neighborhood shopping center is 100% occupied and located at the intersection of East King St. & York Rd, in Kings Mountain. The acquisition will be a part of the same portfolio as Eastway Square, a Food Lion anchored center in Charlotte that New Forum Partners purchased in March. 

“We are very excited about the acquisition of Mountain Plaza and the tenancy it brings to our Food Lion portfolio.” said William Hodges, Managing Partner at New Forum Partners, “With 90% of the tenancy considered essential we like the stability this asset provides as well as the long-term growth of Kings Mountain accelerated by the recent announcement of the Catawba Indian casino.” 

New Forum Partners sourced the deal off-market from the seller Faison. Similar to the Eastway Square acquisition Atlantic Union Bank provided debt. 

About New Forum Partners 

Founded in 2018 to capitalize on New Forum’s development experience in an opportunistic real estate market, New Forum Partners primary focus is new development opportunities with additional lines of business in third party, fee-based development as well as acquisitions. 

About New Forum 

Based in Charlotte, New Forum is a real estate development, management and operating firm with a portfolio that includes office, retail, hotel, medical, multifamily and senior living. The company specializes in mixed-use communities that create a sense of place such as Ayrsley, a master-planned development in Steele Creek that includes more than two million square feet of office and retail space, four hotels, single-family homes, luxury apartments, restaurants and a 14-screen movie theater. For more information about New Forum visit www.newforum.net.