MCB Real Estate, Epic Real Estate Partners, and Centerbridge Partners acquired Northwoods Shopping Center, a 439,569-square-foot grocery-anchored lifestyle center in San Antonio, Texas. Currently 91% leased, this marks the first acquisition for the joint venture between MCB Real Estate, Epic Real Estate Partners, and Centerbridge Partners, L.P. The transaction represents the largest shopping center sale in San Antonio since 2021, with the acquisition loan financed by Truist Bank.
The acquisition of Northwoods Shopping Center was originally developed by Barshop & Oles Company in 1996.
The property is anchored by a flagship H-E-B, a grocer with a 51% market share in the San Antonio MSA. Other major tenants include Nordstrom Rack, Marshalls, Homesense, Barnes & Noble, Old Navy, and Ulta.Â
The purchase of Northwoods is the latest in a string of retail acquisitions by MCB in the past 18 months, which include the $100 million redevelopment of the former Century 21 department store parcel in Bay Ridge, Brooklyn, and the $65 million purchase of Falcon Ridge Shopping Center in Fontana, California.Â
The post Investor Trio Acquires 439K-SF San Antonio Retail Center appeared first on Connect CRE.
​Â
