Bankrupt Austin Shopping Center Picked by CA-Based Firm
Stockdale Capital Partners, a Los Angeles-based, real estate investment firm, has acquired Arboretum Crossing in Austin located at 9333 Research Blvd. The property went into Chapter 11 in June 2021, and Stockdale Capital Partners purchased the property out of bankruptcy. Notorious Texas businessman Nate Paul filed for bankruptcy protection on Arboretum Crossing in 2021.
The 20-acre, 192,000-square-foot shopping center is located at the intersection of Mopac (Highway 1) and U.S. Highway 183. The property is between two of the region’s major employment centers, The Domain and Austin’s Central Business District.
Arboretum Crossing is the first transaction in Stockdale’s second discretionary commingled fund, Stockdale Capital Partners Real Estate Opportunities Fund II, which is focused on opportunistic transactions across the Western U.S.
Stockdale’s Daniel Michaels said, “Stockdale Capital Partners is committed to long-term investment in the city of Austin which is expected to continue to benefit from attractive demographic and economic tailwinds.”