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Texas  + Austin  + Retail  | 

InvenTrust Acquires Two Austin Retail Centers for $189M

InvenTrust Properties Corp. has acquired two shopping centers in Austin Texas for a total of $189.3 million.

The properties include The Shops at Arbor Trails, a 357,000-square-foot center anchored by Costco Wholesale and Whole Foods, and Escarpment Village, a 168,000-square-foot shopping center anchored by grocer HEB. The properties are 99% and 100% leased, respectively.

“These properties are great additions to our portfolio and further strengthen our foothold in the highly sought after Austin market,” said David Heimberger, CIO at InvenTrust. “This transaction validates the Company’s self-funded business plan and will bring meaningful cash flow growth to our platform. Our balance sheet continues to remain well-positioned to fund additional acquisitions in 2022 and beyond.”

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Inside The Story

InvenTrust’s Heimberger

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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