DOUGLASVILLE, Ga.--(BUSINESS WIRE)--May 18, 2026--
ALTO Real Estate Funds announced today that Arbor Square, a leading retail center in Douglasville, Georgia, has reached 100% occupancy following the successful execution of a strategic value-add business plan anchored by the addition of Lidl. The center’s tenant roster also includes national retailers such as HomeGoods, Burlington and Skechers.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260518990071/en/
Located at a signalized intersection with visibility to more than 43,200 vehicles per day and immediate highway access, Arbor Square has strengthened its position as a dominant retail destination within Atlanta’s western commercial corridor. The achievement reflects continued tenant demand for high-quality, necessity-based retail centers in high-growth Sun Belt markets.
“Arbor Square represents ALTO’s strategy of identifying well-located assets with strong long-term fundamentals and creating value through proactive asset management,” said Dor Dezalovsky, COO of ALTO Real Estate Funds. “The addition of a supermarket anchor complements the existing tenant mix and reinforces the center’s resilience in an evolving retail environment increasingly focused on convenience and necessity-based shopping”.
Arbor Square also benefits from strong surrounding demographics, serving more than 84,000 residents with an average household income exceeding $102,000 within a five-mile radius. The property continues to benefit from limited regional competition and strong visibility within one of metro Atlanta’s primary retail corridors.
About ALTO Real Estate Funds
ALTO Real Estate Funds is an investment firm focused on the acquisition and development of logistics assets in Texas and open-air shopping centers throughout the U.S. Sun Belt. Over its 16-year track record, ALTO has invested in 83 properties totaling 15 million square feet. The firm focuses on institutional-quality assets in high-growth markets and seeks to create value through operational expertise, disciplined execution, and active asset management.
ALTO Real Estate Funds Achieves 100% Occupancy at Arbor Square Following Repositioning and Lidl Anchor Addition
MADRID (AP) — A Spanish court acquitted Shakira in a tax fraud case, ordering the government to return more than 55 million euros ($64 million) in wrongly imposed fines, a court document seen Monday by The Associated Press said.
The decision follows years of tax troubles in Spain for the Colombian superstar.
The ruling relates to a dispute over the 2011 tax year in which Spanish authorities failed to prove that the singer was a resident of Spain, the Madrid-based court said in its decision.
For a person to be considered a tax resident in Spain, she must spend more than 183 days in the country.
Spanish authorities were only able to prove that Shakira lived in Spain that year for a total of 163 days, the court said, ordering the Treasury to reimburse the singer the tax paid plus interest.
Spain's tax agency argued that at the time Shakira was tied to Spain through a relationship with now-retired soccer player Gerard Piqué, and that she based her main economic activities in the country.
But the High Court ruled that the relationship could not be legally equated to a marital one, nor was it proven that “the main center or base” of Shakira's activities or economic interests in 2011 were directly or indirectly located in Spain.
“There was never any fraud, and the Tax Agency itself was never able to prove otherwise, simply because it wasn’t true," Shakira, who had filed an appeal, said in a statement provided by her lawyers.
Spain's Treasury is to reimburse the singer 60 million euros (almost $70 million), including interest, Shakira’s lawyer said.
“This resolution comes after an eight-year ordeal that has taken an unacceptable toll, reflecting a lack of rigor in administrative practices,” her attorney, José Luís Prada, said in a statement.
In 2023, in a separate tax fraud case, Shakira reached a deal with Spanish prosecutors to avoid a trial over charges that she did not pay Spanish income tax worth 14.5 million euros (then $15.8 million) between 2012 and 2014.
The singer accepted the charges and was forced to pay 7.3 million euros (then $8 million) in addition to the previously unpaid taxes and interest.
The "Hips Don't Lie" singer was named in the 2017 “Paradise Papers” leaks that detailed the offshore tax arrangements of numerous high-profile individuals, including pop icons Madonna and U2’s Bono.
Spain's tax authorities have over the past decade or so cracked down on soccer stars like Lionel Messi and Cristiano Ronaldo for not paying their full due in taxes. Those players were found guilty of tax evasion but avoided prison time thanks to a provision that allows a judge to waive sentences under two years in length for first-time offenders.
FILE - Shakira performs during the Global Citizen Festival in New York on Sept. 27, 2025. (Photo by Charles Sykes/Invision/AP, File)
