PREF Glenridge LLC, an affiliate of San Diego-based Paragon Real Estate Fund, has purchased the retail portion of the mixed-use Glenridge Springs residential development near Atlanta for $6.4 million.

The seller of the 20,000-square-foot property was BTIC Glenridge Retail LLC of Georgia, according to Paragon officials. The property was built in 2011 and was fully occupied at the time of sale.

The acquisition marked Paragon’s first foray into the Atlanta real estate market, officials said. The company, founded in 1998, specializes in urban retail properties and is managed by Roberto Jinich, Ricardo Jinich and Dan Berkus.