Washington DC CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Greenberg Gibbons Launches Fund Targeting $300M in Acquisitions
Greenberg Gibbons has launched its second private equity real estate fund, targeting $300 million in retail shopping center acquisitions across the East Coast.
The firm also announced the fund’s first acquisition of Wakefield Commons, a 163,975-square-foot neighborhood shopping center located in Raleigh, North Carolina. Wakefield Commons, which is being acquired for $33 million through a joint venture with Boston-based firm Wilder, features retail tenants including Starbucks, Burn Boot Camp, Moe’s Southwest Grill, AT&T, MyEyeDr., Spectrum Paint, and Marquee Cinemas.
“The launch of our second fund and acquisition of Wakefield Commons represent an important milestone for our firm,” said Eric Walter, president of Greenberg Gibbons. The Greenberg Gibbons Real Estate Income Fund II will target retail-driven shopping centers, including grocery-anchored community, neighborhood, and power centers. Investors in the fund include a mix of high-net-worth individuals, family offices, and institutional partners, as well as capital commitments from Greenberg Gibbons.
