With the recent purchase of The Shoppes at Wilderness Oaks in San Antonio, Headwall is ready for more. After a number successful attempts, Headwall is going back to investors to raise capital to try to match the groups earlier successes. The San Antonio Business Journal reports the firm is pursuing what it considers to be the safest bet in a real estate market during these tough times, retail centers.

Headwall has fully tapped its first fund geared toward making those acquisitions. It is raising $100 million for a second fund to expand its efforts into Dallas-Fort Worth and Houston.

Headwall targets neighborhood shopping centers with high occupancy rates and rental growth opportunity that have been overlooked by institutional investors. They look for areas with high residential and multifamily development, saying shopping center construction has lagged far behind.