Donahue Schriber Closing in on ~$3B Sale

Donahue Schriber, a grocery-anchored and shopping center landlord, is nearing a deal to be sold for more than $3 billion to First Washington Realty Inc. and California Public Employees’ Retirement System (CalPERS), according to sources at Bloomberg.com.

Donahue Schriber, based out of Costa Mesa, Calif., owns and operates 60 shopping centers that were valued at more than $3.5 billion as of October 2020, according to a news release. DH’s properties include Fountain Valley and Aliso Viejo, both in Orange County.

Representatives for First Washington, JPMorgan Asset Management, Calpers and NYSTRS declined to comment to Bloomberg. Donahue Schriber has not immediately responded to ConnectCRE’s request for comment.

Grocery-anchored consolidations/deals are continuing a recent marketplace trend. Last year, ConnectCRE.com reported on a Kite Realty Group Trust deal:

Shareholders of Kite Realty Group Trust (KRG) and Retail Properties of America, Inc. (RPAI) have approved all the proposals necessary for the closing of the previously announced merger of RPAI into a subsidiary of KRG. Indianapolis-based KRG will continue as the surviving public company, with an enterprise value of $7.5 billion.