Brixton Capital has purchased a grocery-anchored, 126,678-square-foot shopping center called Decatur 215, located at southeast corner North Decatur Boulevard and West Tropical Parkway in Las Vegas, Nevada, from Houston, Texas-based Weingarten Realty (NSYE: WRI) for an undisclosed price.
Decatur 215 was completed 2016 and is 100 percent leased to a mix of national and regional tenants, including: Target (NYSE: TGT), WinCo Foods, Hobby Lobby, Ross (NASDAQ: ROST), ULTA Beauty (NYSE: ULTA), Raising Cane’s, Burger King (NYSE: QSR), El Pollo Loco (NASDAQ: LOCO), Blaze Pizza, Fire House Subs and Chipotle (NYSE: CMG). Decatur 215 marks Brixton’s sixth acquisition of 2018.
According to Bob Emri, CIO of Brixton Capital, “Decatur 215 was an excellent opportunity to acquire a recently built, stabilized asset with strong cash yields below replacement cost.”
Ramez Barsoum and Aaron Bettencourt at Reza Investment Group represented the seller, while Brixton Capital represented itself.
Brixton Capital is a preeminent private real estate investment firm that seeks to generate outstanding, risk-adjusted returns by unlocking embedded value in commercial real estate transactions spanning all property types. Headquartered in Solana Beach, California, Brixton is led by a team of seasoned real commercial real estate experts with an average of more than 25 years of experience.
Brixton currently owns and operates a portfolio valued in excess of $1 billion, representing over 10 million square feet of retail, multi-family, office, industrial and land investments across the United States and Europe.