JLL recapitalizes Alabama retail portfolio for over $113M

ATLANTA, Sept. 3, 2025 – JLL Capital Markets announced today that it has arranged the $113.3 million recapitalization of an Alabama retail portfolio, which included three, grocery-anchored retail centers totaling 785,598 square feet in the Mobile MSA. The properties in the portfolio include: Foley Square (2140 S. McKenzie St., Foley, AL), Jubilee Square (6850 U.S. 90, Daphne, AL) and Westwood Plaza (7765 Airport Blvd., Mobile, AL).

JLL represented the Burton Property Group, who partnered with Peaceable Street Capital. The $113.3 million transaction was part of an overall $124 million recapitalization effort.

The portfolio features premier grocery anchors, including Rouse's Supermarket, The Fresh Market and shadow-anchored Publix, along with notable national retailers such as Ross Dress for Less, TJ Maxx, HomeGoods, Hobby Lobby, ULTA, Dick's Sporting Goods, Academy Sports and AMC. Anchor tenants represent 73% of the portfolio's gross leasable area and 60% of base rent.

JLL Capital Market’s Investment Sales and Advisory team representing the operating partner (Burton Property Group) was led by Senior Managing Director Jim Hamilton, Managing Director Brad Buchanan and Vice President Andrew Michols.

According to Hamilton, “The retail sector has provided the most durable and consistent returns compared to other property sectors the past several years. Fundamentals are the strongest in many decades due to limited new development activity, consumer spending resilience and robust rent growth and occupancy levels. Due to those factors, demand for the Burton Property Group Portfolio recapitalization was exceptionally strong with a wide range of capital sources expressing interest in this opportunity.”

The Mobile MSA, Alabama's third-largest metropolitan area with over 415,000 residents, continues to benefit from significant economic drivers including the Port of Mobile (9th largest in the US by tonnage), Airbus's $1+ billion investment in manufacturing facilities and Baldwin County's distinction as Alabama's fastest-growing county.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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Founded in 2012, Burton Property Group is one of the largest real estate development firms in South Alabama that has grown from an initial $15 million capital investment to manage a portfolio of $400 million across multiple property classes. The company traces its origins to a successful Mobile family bakery and leveraged the $200 million sale of the Silver Sands outlet center to fuel its expansion into development and institutional consulting services. With a proven investment strategy and experienced team, Burton Property Group provides development, management and consulting services while maintaining a competitive edge in executing opportunistic investments across various real estate cycles.

Peaceable Street Capital provides participating preferred equity to help experienced operators with established track records acquire and refinance income producing commercial real estate across a broad range of small to mid-size properties and asset types throughout North America . The company leverages longstanding relationships with established Operating Partners to creatively structure participating preferred equity deals. PSC Manager, LLC serves as a federally registered investment advisor for the firm's investment activities.