Brixton Capital has recapitalized two of its grocery-anchored retail properties in a joint venture partnership with TriPost Capital Partners, a real estate private equity firm. Terms were not disclosed. The portfolio includes Marketplace Beaumont in the Riverside County city of Beaumont and Palmilla Center in Phoenix.
Marketplace Beaumont is a 177,000-square-foot, 99% occupied shopping center anchored by ALDI. Brixton purchased the property in 2021. Palmilla Center, which Brixton acquired in 2018, is a 104,000-square-foot center anchored by Fry’s Food & Drug, a leading Kroger brand.
Each asset is ideally located to capitalize on strong regional demographic and employment growth trends in its respective submarket, according to Brixton.
“We are thrilled to establish this partnership to continue delivering value to our investors and local communities,” said Brixton Chairperson Marc Brutten. “We’re proud of our work operating and upgrading these high-performing shopping centers, and we’re honored that TriPost recognizes that value.”
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