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Dallas — Dallas-based Crow Holdings has recapitalized a portfolio of 194 retail properties totaling 4.5 million square feet. Crow Holdings Capital (CHC), the firm’s investment management business, arranged the financing. Spanning 30 states, the portfolio is currently 93 percent leased and features approximately 2,000 tenant suites with an average size of roughly 2,250 square feet.
This transaction builds on the joint venture CHC had previously formed to acquire small-format, convenience-oriented, open-air, food and service shopping centers. Since 2003, the joint venture has acquired over $220 million in additional properties.