Charlotte, N.C. — Charlotte, North Carolina-based Big V Property has partnered with Equity Street Capital to launch the Big V Core Property Fund, a $1.2 billion open-ended retail real estate fund. The fund, which was created by consolidating seven retail properties into a single investment vehicle, spans six cities and is 96 percent leased.
The properties include The Rim and Alamo Ranch in San Antonio; The Avenue Murfreesboro in Murfreesboro, Tennessee; Southpark Meadows in Austin, Texas; Glynn Isles in Brunswick, Georgia; Westside Center in Huntsville, Alabama; and Glade Parks in Euless, Texas.
Additionally, the company secured a $765 million financing facility to support the new fund’s current operations and continued expansion. Truist Bank, U.S. Bank, Huntington Bank and Regions Bank provided the financing through a balance sheet execution. Big V Property Group will serve as sole manager to the fund.