At a glance
- DLC, an owner and operator of open-air shopping centers, bought the property with Cohen & Steers through the Cohen & Steers Real Estate Opportunities Fund.
- A selector weighing Cohen & Steers' retail exposure has to track which pool holds which asset and at what basis, because the sponsor now buys open-air centers through at least two vehicles.
- Cohen & Steers said the acquisition fits its thesis of buying income-producing shopping centers anchored by necessity retailers in markets with limited competing supply, Connect CRE reported.
DLC and a Cohen & Steers fund bought West Street Shopping Center, a 206,319-square-foot grocery-anchored center in Keene, N.H., in an off-market deal, Connect CRE reported Nov. 12.
The sale price was not disclosed; Hannaford has operated at the center since 1984, and Hobby Lobby is the other anchor. That store is the country's No. 2-performing Hannaford, according to Connect CRE. DLC, an owner and operator of open-air shopping centers, bought the property with Cohen & Steers through the Cohen & Steers Real Estate Opportunities Fund.
A selector weighing Cohen & Steers' retail exposure has to track which pool holds which asset and at what basis, because the sponsor now buys open-air centers through at least two vehicles. The Real Estate Opportunities Fund acquired this center. The Income Opportunities REIT bought two centers in Phoenix and Rock Hill, S.C., for $92.3 million in October, as Private Wealth Daily previously reported.
Cohen & Steers said the acquisition fits its thesis of buying income-producing shopping centers anchored by necessity retailers in markets with limited competing supply, Connect CRE reported.
Reported by the Deals desk from Connect CRE. Published . Corrections