New Forum, Inc. has formed a dedicated platform, New Forum Partners, focused exclusively on new development and acquisitions. With its founding, New Forum Partners has announced the acquisition and planned re-development of Seneca Place, a 41,310 square-foot retail strip center and outparcel pad with a diverse mix of tenants, located in Charlotte, North Carolina.

Seneca Place, currently comprised of a 34,710-square-foot retail strip center and a 6,600
square-foot outparcel, will be rebranded as Madison Corners. The Madison Corners rebrand
will include over $1,000,000 in capital improvements including a re-designed exterior.

New Forum Partners is currently seeking tenants to complement the booming Madison Park
neighborhood such as high-end and fast casual restaurants, coffee shops, yoga and fitness
users, and wine shops. Retail leasing of Madison Corners will be handled through Jay Mitchener at Thrift Commercial.

Seneca Place in the heart of the rapidly growing Madison Park, Montclaire and Archdale
communities and is approximately three miles northwest of South Park and seven miles south
of Uptown Charlotte. More than 91,700 residents earning an average household income of
$103,279 live within a three-mile radius of the center.

William Hodges, Principal at New Forum Partners and broker-in-charge of New Forum’s leasing represented the buyer. Rob Settle of Commercial Carolina represented the seller of Seneca Place, Carl Ricker. Cory Fowler of Holliday Fenoglio Fowler, L.P. (HFF) worked on behalf of the borrower to place the floating-rate loan with Ready Capital Structed Finance.