ShopOne Centers REIT has formed a joint venture to acquire institutional-quality shopping centers based in key growth markets across the United States.
The partnership will target necessity-based, value-oriented grocery-anchored centers, primarily located in high-population areas, with a focus on locations in the top-100 metropolitan statistical areas (MSAs). ShopOne has contributed an existing portfolio consistent with the partnership’s target investment criteria, with the partners each investing additional capital to create investment capacity totaling more than $1 billion. ShopOne will oversee the management and leasing efforts of all properties within the partnership’s portfolio.
The joint venture has closed on a newly created $225 million senior credit facility providing debt capital for the initial portfolio, with additional capacity to fund future acquisitions.
“We are very excited to form this partnership with two highly experienced institutional p
