The transaction involves the acquisition of retail assets located at 1015 West University Avenue and 11066 Lakeline Mall Drive in the Georgetown and Austin markets. The assets total approximately 1,019,000 square feet and are 99% leased to national tenants, showcasing a significant market presence. The joint venture transaction was valued at $250 million.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $250 million
• Asset Square Footage: 1,019,000
• Addresses: 1015 West University Avenue & 11066 Lakeline Mall Drive
• Market: Georgetown & Austin
• Buyer: Ankit Bhatt - Oxford Properties; Will Davis - Pine Tree
• Seller: Christopher Conlon - Washington Prime Group
• Brokers: Kyle Minter & Conor Lalor - Newmark

Oxford Properties, in a joint venture with Pine Tree, has made its entry into the U.S. open-air retail sector through this acquisition. The properties acquired include Wolf Ranch Town Center and Lakeline Plaza, further establishing a foothold in the competitive retail market of Austin, Texas.