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Progress Realty acquires North Carolina shopping center for USD 36m.

BANKING AND CREDIT NEWS-January 22, 2020-Progress Realty acquires North Carolina shopping center for USD 36m


Progress Realty Partners (PRP), a New Jersey-based private equity firm, has announced it has acquired Marketfair Shopping Center, a Class A shopping center from Westport Capital, a national REIT, the company said.

Marketfair Shopping Center, located in Fayetteville, NC, represents PRP's first acquisition in North Carolina. The property recently underwent a complete redevelopment and re-tenanting, highlighted by the mid-December grand opening of Lidl, a German-based grocery store. Lidl joins other national tenants such as Planet Fitness, Gander Outdoors and AMC Theaters.

Progress Realty Partners specializes in the acquisition and management of commercial real estate properties nationwide. PRP provides accredited investors, family offices and funds superior commercial real estate investment options in institutional-quality properties. PRP and its affiliates have closed over USD 40 billion in CRE acquisition, debt and equity transactions serving a wide array of real estate professionals.

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Publication:M2 Banking & Credit News (BCN)
Geographic Code:1U5NC
Date:Jan 22, 2020
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