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ShopOne JV Targets Grocery-Anchored Retail Across the U.S.
ShopOne Centers REIT Inc. global private markets investment manager Pantheon and a leading global institutional investor have formed a joint venture to acquire institutional-quality shopping centers in key growth markets across the U.S. The partnership will target necessity-based, value-oriented grocery-anchored centers.
New York City-based ShopOne has contributed an existing portfolio, with the partners each investing additional capital for investment capacity exceeding $1 billion. The JV has closed on a $225-million senior credit facility.
“We are very excited to form this partnership with two highly experienced institutional partners that possess deep relationships within the investment community,” said John Roche, ShopOne’s CEO. “Like us, they are bullish on the near- and long-term fundamentals of grocery-anchored shopping centers.”
David Elliott, managing director in Pantheon’s Real Estate group, added, “Grocery-anchored shopping centers have proven their resilience throughout the pandemic, playing a vital role in their local neighborhoods and communities.”
Pictured: John Roche.
- ◦Sale/Acquisition
- ◦Financing
