Northpond Fund to Target Sunbelt Retail Centers

Northpond Partners has partnered with a prominent southeast U.S. pension fund to form a $200 million evergreen investment vehicle called Northpond Retail Partners. This single-investor fund will target acquiring unanchored neighborhood retail centers with an initial focus across the Southeast and select Sunbelt markets. The fund will center on repositioning, remerchandising, or redeveloping real estate in the Southeast (the Carolinas, Georgia, and Tennessee).

As an all-cash buyer, the partnership will target properties housing convenience, necessity, and service-oriented tenants. Retail categories typically include F&B, medical, fitness, and health & beauty. These multi-tenant properties ideally contain smaller, general-purpose spaces ranging from 1,000 – 5,000 square feet per tenant.