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AmCap Expands DC Portfolio to Five Grocery-Anchored Centers
AmCap, Inc., a vertically integrated private equity real estate firm headquartered in Stamford, CT, has acquired First Colony Center, a 98,179-square-foot, grocery-anchored shopping center in the Washington, DC suburb of California, MD. Pricing wasn’t disclosed. The addition of First Colony brings AmCap’s Washington, DC-area presence to five grocery-anchored centers.
“We are excited to acquire First Colony and add another Giant Grocery Store to our portfolio,” said Jake Bisenius, president and CIO of AmCap. “In addition to having high-performing junior anchor tenants including Michaels and Advance Auto Parts, First Colony is shadow anchored by Target, Lowe’s and BJ Wholesale Club, who help drive foot traffic to the center.”
First Colony is the third acquisition purchased through a joint venture with Encore Enterprises. AmCap’s DC-area portfolio also includes Manokeek Village Center in Accokeek, MD; Arbutus Shopping Center in Arbutus, MD; Montgomery Village Plaza in Gaithersburg, MD; and Ashbrook Commons in Ashburn, VA.
- ◦Sale/Acquisition
