SOLD
KM Real Estate Investment Trust Acquires 17 Shopping Centers In El Paso, TX
4400 North Mesa Street, 8838 Viscount Boulevard, 6330 North Mesa Street, 8414-8424 North Loop Drive, 6503-6559 North Mesa Street, 6300-6360 Edgemere Boulevard, 7200-7250 North Mesa Street, 5857 North Mesa Street, 1188 North Yarbrough Drive, 7040 North Mesa Street, 7100-7140 N Mesa St., 7040 North Mesa Street, 5801-5835 North Mesa, 3117 McRae Boulevard, 8033 Alameda Avenue, 850 North Carolina Drive & 6900-6950 North Mesa Street
Retail
2,802,282 SF
2,802,282 SF
Sold 67 days ago
Summary
Sale
TEXAS
Retail
2,802,282 sqft
The transaction involves the acquisition of 17 shopping centers in El Paso, TX, totaling 400,326 square feet. The properties are located at 4400 N Mesa St., 8838 Viscount Blvd., 6330 N Mesa St., 8414-8424 North Loop Dr., 6503-6559 N Mesa St., 6300-6360 Edgemere Blvd., 7200-7250 N Mesa St., 5857 N Mesa St., 1188 N Yarbrough Dr., 7040 N Mesa St., 7100-7140 N Mesa St., 7040 N Mesa St., 5801-5835 North Mesa, 3117 McRae Blvd., 8033 Alameda Ave., 850 N Carolina Dr., and 6900-6950 N Mesa St. The buyers, Randy Keith, Garrett Lepow & Edward Rice, operating under KM Real Estate Investment Trust, Inc., are acquiring these retail properties. The sellers are Cavalier Investment Company, Inc.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: Not specified
- Market: El Paso, TX
- Note: The purchase is part of a unique 721 or "UPREIT" exchange, demonstrating KM Real Estate Investment Trust's strategic expansion through equity swap transactions.
- Contact: Garrett Lepow (713) 275-2608 or Edward Rice (713) 275-2613
The key individuals involved in this transaction are Randy Keith, Garrett Lepow, and Edward Rice representing KM Real Estate Investment Trust, Inc., acting as the buyers. On the selling side, Cavalier Investment Company, Inc. facilitated the sale of approximately 400,000 square feet of retail assets in El Paso, TX. The buyers' innovative approach to portfolio growth is evident through the use of tax-deferred benefits and the incorporation of unanchored shopping centers into their expanding portfolio.
Details
SOLD
IMAGE: Randy Keith, Garrett Lepow & Edward Rice
DATE: 03/15/2024
ADDRESS: 4400 N Mesa St., 8838 Viscount Blvd., 6330 N Mesa St., 8414-8424 North Loop Dr., 6503-6559 N Mesa St., 6300-6360 Edgemere Blvd., 7200-7250 N Mesa St., 5857 N Mesa St., 1188 N Yarbrough Dr., 7040 N Mesa St., 7100-7140 N Mesa St., 7040 N Mesa St., 5801-5835 North Mesa, 3117 McRae Blvd., 8033 Alameda Ave., 850 N Carolina Dr. & 6900-6950 N Mesa St.
MARKET: El Paso, TX
ASSET TYPE: Retail ~ SF: 400,326
BUYER: Randy Keith, Garrett Lepow & Edward Rice - KM Real Estate Investment Trust, Inc. (@KMRealtyMgmt)
SELLER: Cavalier Investment Company, Inc.
NOTE FROM BUYER: Despite the fact that transaction volume in the real estate industry is down significantly, KM Real Estate Investment Trust, Inc. is acquiring 17 shopping centers in El Paso, TX via a 721 or "UPREIT" exchange. This “equity swap” transaction structure not only showcases the resilience of unanchored retail in Texas but also highlights KM Real Estate Investment Trust's innovative approach to portfolio expansion. The sellers, in this case, were able to seamlessly contribute approximately 400,000 square feet of retail assets into KM's growing portfolio of synonymous unanchored shopping centers, all while enjoying tax-deferred benefits. If you want to learn more about this deal, contact Garrett Lepow (713) 275-2608 or Edward Rice (713) 275-2613.View on map
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Address4400 North Mesa Street, 8838 Viscount Boulevard, 6330 North Mesa Street, 8414-8424 North Loop Drive, 6503-6559 North Mesa Street, 6300-6360 Edgemere Boulevard, 7200-7250 North Mesa Street, 5857 North Mesa Street, 1188 North Yarbrough Drive, 7040 North Mesa Street, 7100-7140 N Mesa St., 7040 North Mesa Street, 5801-5835 North Mesa, 3117 McRae Boulevard, 8033 Alameda Avenue, 850 North Carolina Drive & 6900-6950 North Mesa Street
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