Baltimore and Austin, Texas — MCB Real Estate, a privately held commercial real estate firm based in Baltimore, has completed the acquisition of Austin-based Epic Real Estate Partners. The transaction includes 15 grocery-anchored shopping centers owned in partnerships totaling more than 2 million square feet of retail space across 10 states, with a total portfolio value exceeding $575 million, as well as the operating company, which has 13 employees.
The properties were cumulatively 92 percent leased at the time of the merger, and the ownership structure of all property-level limited partnerships stayed intact as part of the transaction. The centers, which average 150,000 square feet in size, include:
- Alafaya Square in Orlando, Florida
- Auburn Village in Sacramento, California
- Cobbler Crossing in Chicago
- Durham Festival and Riverview Shopping Center in Durham, North Carolina
- Eagan Town Center and Hertiage Commons in Minneapolis
- Easton Commons in Houston
- Kauai Village in Kauai, Hawaii
- Marketplace Shopping Center in Temple, Texas
- Northlake Shopping Center in New Orleans
- Preston Trail Village in Dallas
- Shops of Forest Hill in Memphis
- Sprouts Crossing in Hurst, Texas
- Ventana Village in Tucson, Arizona
Epic employees will continue to operate from its former Austin and Dallas offices while working within the operating platform of MCB Real Estate.