US real estate investment manager Ram Realty Advisors has acquired a $200m (€170.9m) grocery-anchored retail portfolio.
Ram Realty said the 600,000sqft portfolio of seven grocery-anchored shopping centres across the Southeast has been acquired via a combination of acquisitions and partnership contributions.
The assets include the Mainstreet at Midtown, Palm Beach Gardens, Florida; Homestead Market and Bull City Market assets at Durham, North Carolina; Holly Springs Crossing at Holly Springs, North Carolina; Mainstreet Village at Hilton Head Island, South Carolina; The Market at Mills Park – Orlando, Florida; and Blys at Oakland Park, Florida.
The portfolio, with 98.7% occupancy, is leased by grocers including Whole Foods Market, Sprouts Farmers Market, The Fresh Market and Harris Teeter.
Brian Maloney, principal at Ram Realty Advisors, said: “This investment reinforces our strategic focus on essential retail in high-demand Southeast markets. We believe grocery-anchored retail continues to benefit from attractive sector fundamentals driven by strong tenant demand and limited new supply.”
Ashley Saulpaugh, SVP at Ram Realty Advisors, said: “The portfolio reflects our conviction in the long-term strength of grocery-anchored retail. We identified several additional targets and intend to create a highly curated portfolio of strong locations.”
Casey Cummings, CEO Ram Realty Advisors, said: “We made our first retail investment in Florida nearly 30 years ago. This portfolio acquisition reflects a renewed commitment to expanding our retail presence throughout the Southeast.”
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