Peter Borzak And Conor Bossy Of Pine Tree Acquire Retail Shopping Center Portfolio From David Lukes
Retail Shopping Center Portfolio
Building Size
3,500,000 SF
Asset Type
Retail
Closing
Oct 20, 2026
About this deal
AI
A retail shopping center portfolio valued at $644 million spans 3.5 million square feet across nine states: Arizona, South Carolina, Illinois, Virginia, Connecticut, Missouri, New York, Georgia, and North Carolina.
Summary of transaction details:
- Property Type: Retail
- Transaction Amount: $644 million
- Asset Size: 3,500,000 SF
- Buyer: Peter Borzak & Conor Bossy
- Buyer Company: Pine Tree
- Seller: David Lukes
- Seller Company: SITE Centers
Pine Tree acquired a sponsor interest from SITE Centers in a 10-property shopping center portfolio, which includes major retailers such as Target, Publix, ALDI, and Lowe’s. This acquisition brings Pine Tree’s total acquisitions over the past year to more than $1 billion.
On the Map
Retail
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Players
Center Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.80%
Cash-on-Cash
-1.66%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93