US real estate investment firm Longpoint Partners has invested $61.9m (€59m) to acquire two grocery-anchored shopping centres.
The Boston-based manager said it has acquired the 101,269sqft El Monte Shopping Plaza in Phoenix, Arizona, and the 101,453sqft Hills Village Center in Bedminster, New Jersey.
The El Monte Shopping Plaza is 99% occupied by fashion, wellness and food & beverage tenants, while Hills Village Center is 89% occupied by a mix of food & beverage, fitness and business services tenants.
Dwight Angelini, co-founder and managing partner at Longpoint Partners, said: “We are proud to have expanded our Lena Centers portfolio with these acquisitions in our target markets.
“Both properties are optimally located and well-occupied with high-quality retailers and businesses that cater to the needs of each local community. Our strategy is to create culturally relevant shopping centers for our communities.”
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