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Chicago — Chicago-based Pine Tree, a national owner and operator of open-air shopping centers, has acquired a sponsor interest in a 10-property retail portfolio valued at $644 million. The interest was acquired from SITE Centers in partnership with an undisclosed, large international investor. Spanning nine states, the portfolio comprises 3.5 million square feet and features a mix of tenants such as Target, Sam’s Club, Publix, ALDI, Sprouts Farmers Market, Food Lion, The Fresh Market, Lowe’s, Dick’s Sporting Goods, Best Buy, Marshalls, HomeGoods and Ross Dress for Less, among others.
The portfolio includes the following properties:
- Ahwatukee Foothills Towne Center in Phoenix (705,696 square feet)
- Ashley Crossing in Charleston, South Carolina (217,438 square feet)
- Brookside Marketplace in Chicago (601,857 square feet)
- Commonwealth Center in Richmond, Virginia (165,611 square feet)
- Connecticut Commons in Hartford, Connecticut (560,668 square feet)
- Independence Commons in Kansas City, Missouri (403,362 square feet)
- Poyner Place in Raleigh, North Carolina (434,000 square feet)
- Route 22 Retail Center in Union, New Jersey (237,253 square feet)
- Towne Center Prado in Atlanta (286,683 square feet)
- University Centre in Wilmington, North Carolina (525,000 square feet)