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Crow Holdings Capital Forms $2.6B JV on Food- and Service-Oriented Retail
Crow Holdings Capital (CHC), the investment management business of Crow Holdings, has formed a $2.6-billion joint venture with a global institutional investor. This partnership enables CHC to expand its retail investment strategy of acquiring small-format, convenience-oriented, open-air, food and service shopping centers and to continue capitalizing on the opportunity to aggregate an institutional-quality portfolio in a highly fragmented market.
The platform was formed through a recapitalization of an existing $1.8-billion, 173-property portfolio owned by two real estate funds managed by CHC. It includes a significant equity commitment to pursue new acquisitions to continue to scale the business and establish the JV as the dominant small-format, food and service platform in the U.S.
“We see further opportunity to be the leading institutional player in this market, and we are confident this partnership will provide the resources to achieve even greater future success,” said Michael Levy, CEO of Crow Holdings.
- ◦Sale/Acquisition
