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As shopping
center developers, we understand the enormous risk, hard
work, and capital required to be successful in this
business.
At Pine
Tree, we also understand that on occasion, a shopping center
developer may have considered the strategic option of
selling a property before it is 100% complete, 100% leased,
and ready to be marketed for sale (possibly to mitigate the
risk of rising cap rates, to mitigate the risk of rising
interest rates, or simply to free up capital and staff time
for other projects).
We have
created a new program to provide an outlet for shopping
center developers to realize the value they have created in
their projects by selling prior to 100% completion and 100%
lease up. This program is called the Developer Early Reward
Program, and we provided a brochure to help explain how
the program may benefit you (click on the link to the left). We welcome brokerage
participation, and we welcome the opportunity to help
developers unlock the value they have created without the
burden of ongoing obligations such as master leases and
guarantees.
Transactions we have closed through this program recently include the $63 million acquisition of the Hazel
Dell Town Center in suburban Portland, OR, and the $48
million acquisition of the Shops at Walnut Creek in suburban
Denver, CO. These properties are both class A shopping
centers in first tier markets and are occupied by many of
the nations most prominent retailers, including Target, Kohls, Best Buy, TJ Maxx, Bed Bath & Beyond, Office Depot,
and Petsmart.
Please call
us to learn more about how the Developer Early Reward
Program might work for you or for your clients.
For information, call us at
847-574-3332, or email us at
EarlyRewards@pinetreeinstitutional.com.
Developer Early Rewards Press |
