Crawford Square tapped as manager of Louisville property
Birmingham firm Crawford Square Real Estate Advisors have been selected to manage and lease a Louisville, Ky. mixed-use property after its acquisition by Wicker Park Capital Management.
Westport Village, a 169,515-square-foot mixed-use center, is comprised of more than 40 retailers, restaurants and offices, located near the intersection of Westport Road and Herr Lane along one of Louisville’s retail corridors. It is currently 93 percent occupied. The property sold for $30.3 million, according to Atlanta-based Hendon Properties, which co-owned the center with Harbert Management Corp.
With the addition of Westport Village to its portfolio, Crawford Square is now involved with the management and leasing of 14 properties, totaling approximately 4.7 million square feet in five southern states.
Westport Village was recently acquired as the seed asset of Wicker Park Capital Management’s first discretionary, closed-end fund, WPCM Relative Value Fund I. Wicker Park is a real estate investment management firm with offices in Savannah, Ga. and Birmingham and has majority ownership of Crawford Square.
“Westport Village is an attractive center because of the superior location, convenient layout and unique mix of merchants that have garnered a tremendous following from the community. We plan to further invest in the shopping center, so it continues to serve as a destination and gathering place for the region.” Sam Heide, Principal with WPCM and CSREA, said.
