|
|
3/04/25
|
Brixton Capital has secured a $250 mil programmatic joint venture with an undisclosed global alternative investment manager. The strategic partnership will help Brixton grow its portfolio of shopping centers throughout the Western U.S.
The $250 mil investment translates into roughly $700 mil of acquisition capacity. Property targets include grocery anchored shopping centers, power centers and limited unanchored centers and strip malls.
Brixton executed its first deal within the joint venture with the $67.5 mil purchase of Washington Square in Petaluma, as reported on RENTV on March 3. The purchase price reflects a value of approximately 60% of replacement cost, and Brixton has planned multiple strategies to enhance value.
“We are proud to offer our joint venture partner more than 40 years of our experience in West Coast retail and a best-in-class management team,” said Brixton Capital Chairman Marc Brutten. “Our established reputation for nurturing tenant relationships and successful track record executing value-add retail investments also underpin our success and helped us secure this investment.”
Other market dynamics influencing Brixton’s decision include an increase of retailers using their stores as last-mile distribution centers and the rise of omni-channels, which are optimized with both an online and brick-and-mortar experience.
“Establishing a joint venture allows us to scale our business quickly with one investment partner with a similar investment premise for increasing exposure to the retail asset class,” said Brixton Capital President and Chief Investment Officer Rob Taylor. “We believe it’s a favorable time to buy retail properties in the Western U.S. due to limited development over the last 15 years and an all-time nationwide vacancy rate of 4%.”
 |
 |
|
Brutten is CEO of San Diego-based Brutten Global, which, in addition to Brixton Capital, also owns Westcore Properties, a major industrial owner and developer, and Airport Development Partners, an owner of regional airports in Europe. To hear Marc’s take on a wide range of topics, listen to the latest episode of CRE Talk with Steve and Arnie on The REview, where they have an in-depth conversation with Brutten about his businesses, his background, his outlook going forward, and much more.
|
|
 Return to the previous page
|
|
|
Printer-friendly Version
Email an Associate
