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2/13/15
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Donahue Schriber Realty Group has received a $250 mil equity investment from institutional investors advised by J.P. Morgan Asset Management and New York State Teachers’ Retirement System (NYSTRS). Each have provided $125 mil in capital which will fund acquisitions focused on grocery-anchored neighborhood and community shopping centers, as well as power centers in high barriers to entry markets along Coastal California to the Pacific Northwest.
This additional equity comes on the heels of Donahue Schriber acquiring three properties in the past 60 days - Village Oaks Shopping Center, a 320k sf center anchored by Target and Safeway located in San Jose; Gilman Village, a 91.3k sf Whole Foods Market-anchored center in Berkeley; and Westgate North, a Safeway-anchored center in the greater Seattle/Tacoma area.
In the past three and a half years, J.P. Morgan Asset Management-advised investors and New York State Teachers’ Retirement System have invested a total of $450 mil of growth capital with Donahue Schriber, a privately-held Real Estate Investment Trust (REIT) specializing in shopping centers. The REIT operates nearly $3 bil in shopping center assets.
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