AUSTIN, TX – Epic Real Estate Partners and Heitman LLC (“Heitman”), a global real estate investment management firm, are pleased to announce the formation of a strategic partnership focused on acquiring value-add grocery-anchored retail properties nationwide. The venture includes the recapitalization of five properties within Epic’s current portfolio – Alafaya Trails (Orlando MSA), Jacaranda Plaza (Ft. Lauderdale MSA), Durham Festival (Raleigh-Durham MSA), Heritage Commons (Minneapolis MSA) and Auburn Village (Sacramento MSA). The properties, all anchored by market leading grocers in their respective regions, total approximately 745,000 square feet and are 92.9% occupied.
Additionally, the venture recently acquired Mesa Shores (Phoenix MSA). Dual-anchored by Trader Joe’s and Sprouts, Mesa Shores totals 110,917 square feet and is 94% occupied.
“We are very excited about this strategic partnership with Heitman. The purchase of Mesa Shores and recapitalization of five assets in our portfolio reflects a shared vision in sourcing and stabilizing value-add grocery-anchored product in growth areas nationwide,” said Daniel Jay Holland, President and CEO of Epic Real Estate Partners.
Heitman entered into the joint venture on behalf of an affiliate of the firm. The venture was formed with the assistance of Jones Lang Lasalle’s Capital Markets group, headed by Danny Finkle and Michael Joseph.
About Epic Real Estate Partners
Epic Real Estate Partners is a commercial real estate investment firm headquartered in Austin, Texas. In conjunction with institutional partners, Epic seeks value-add opportunities in grocery-anchored retail in top 60 markets, select college towns, resort communities and tertiary markets with unique economic drivers nationwide.
For more information, please visit www.epicrepartners.com.
Founded in 1966, Heitman LLC is a global real estate investment management firm with more than $53 billion in assets under management. Heitman’s real estate investment strategies include direct investments in the equity or debt capitalization of a property or in the securities of listed and publicly traded real estate companies. Heitman serves a global client base with clients from North American, European, Middle Eastern and Asia-Pacific institutions, pension plans, foundations, corporations and individual investors. Headquartered in Chicago, with additional offices in North America, Europe, and Asia-Pacific, Heitman’s approximately 350 employees offer specialized expertise – from a specific discipline to local insight.
For more information, please visit www.heitman.com.