On September 3, 2021, Squire Hill Properties completed its acquisition of a BB&T (now Truist) bank branch located in Northern Kentucky. This was the second acquisition of the day for the company. Squire Hill also completed a $5M+ retail acquisition of Village Grand in Atlanta, GA the same day.
President Austin Beck stated “It has been a busy couple of weeks for us. Having both deals closing on the same day made things hectic for our office, but it was well worth it. We are very excited about our acquisition of our Atlanta property since it is the first one in that market for us, and we are very excited to have purchased the BB&T in our own market at a highly advantageous price.”
Squire Hill disclosed the company had to outbid 17 other buyers for the property. Robert Beck stated “this was a challenging deal to get under contract because there were so many other offers. We didn’t know how many at the time but later found out that we were one of eighteen offers for the property. We were very pleased to have been able to get it under contract and close the deal. This property sits at a fantastic location in Northern Kentucky and will be a great addition to our portfolio.”
To date, the company has been purchasing commercial real estate in the Greater Cincinnati area since 2009 and feels strongly about this market moving forward. Austin says, “I think the Cincinnati market and the surrounding markets will continue to do well into the future. If you look at how it is located geographically and how accessible it is to and from other major cities, we anticipate the growth to continue. We are also conscious of the fact that there are many other markets that are performing strongly as well, and we have identified several others that we are looking at deals in. Again, we keep going back to our investment criteria checklist and if both a property and a market check the boxes, we will certainly take a hard look.”
The company is currently accepting investors for future deals. If you are interested in investing in commercial real estate, please contact their offices at (859)-371-3700 to learn more.