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Prudent Growth Partners Acquires Four-Property Retail Portfolio in North Carolina
Chapel Hill, N.C.-based private equity real estate firm Prudent Growth Partners has acquired a portfolio of four dollar stores in North Carolina. The sales price was $4.1 million.
The portfolio consists of four Family Dollar locations in Sunbury, Rocky Mount, Whitakers and Columbia, N.C. The properties were owned by several sellers, which meant that the Prudent Growth closing team had to negotiate and complete four separate transactions all on the same closing date.
“We are pleased to continue adding to our portfolio of ‘essential business’ and these dollar store operators are widely regarded as ‘recession-proof’ by most analysts,” said Tom Hahn, president at Prudent Growth Partners. “While this remains a small slice of our overall portfolio, it is popular hedge against a potential economic slow down in the next couple of years for many of our investors.”
- ◦Acquisition
