Dallas — The joint venture has acquired three centers — Easton Commons Shopping Center, Paulding Commons and Aspen Park.
Dallas — NewQuest Epic Investments has closed on a $75 million joint venture with a $4 billion private equity real estate firm to acquire value-add grocery-anchored properties, as well as power centers over the next 12 to 18 months. The $75 million equity placement will pursue retail opportunities in the top 60 markets, select college towns and resort communities.
The partnership recently acquired three properties — Easton Commons Shopping Center in Houston, Paulding Commons in Hiram, Ga., and Aspen Park in Conifer, Colo. The 193,595-square-foot Easton Commons is a grocery-anchored center located in the Copperfield master-planned community. The property is anchored by Kroger Signature and Studio Movie Grill. Paulding Commons, a 209,676-square-foot project, is anchored by Academy Sports + Outdoors. The final property, Aspen Park, is a 154,000-square-foot neighborhood center located west of Denver.
Beth Lambert-Saul and Diego Arroyave with Cassidy Turley’s structured finance team arranged the joint venture equity on behalf of NewQuest Epic Investments.