DLC Management And DRA Advisors Acquire Retail Portfolio For $429 Million In Texas Florida Arizona Oklahoma

A retail portfolio consisting of eight properties has been sold for $429,000,000. The total portfolio encompasses 2,120,000 square feet located across Texas, Florida, Arizona, and Oklahoma. This transaction signifies DLC Management's first retail acquisitions in the states of Phoenix and Oklahoma, while simultaneously expanding its presence in Texas and Florida. The properties are anchored by national tenants, including Nordstrom Rack, REI, and TJ Maxx, and boast a lease rate of 91.3%. Financing for the transaction was arranged by Newmark.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $429,000,000
• Square Footage: 2,120,000
• Price Per Square Foot: $202
• Buyer: Adam Ifshin - DLC Management; David Luski - DRA Advisors
• Mortgage Brokers: Adam Spies, Conor Lalor, Jordan Roeschlaub & John Caraviello - Newmark

This transaction involves key individuals such as Adam Ifshin from DLC Management and David Luski representing DRA Advisors, both of whom played pivotal roles in the acquisition. The deal highlights a strategic collaboration between the buyers and the mortgage brokers from Newmark, which facilitated the financing arrangements for the portfolio acquisition, ensuring a smooth transactional process.