Marcus & Millichap announced that its division, IPA Capital Markets, has arranged $113.7 million in acquisition financing and preferred equity for a portfolio of retail centers in Fort Worth, Texas.
The financing supports the acquisition of three contiguous retail properties totaling approximately 375,000 square feet. The assets, now collectively known as Presidio Junction, include Presidio Towne Crossing, Tehama Towne Crossing, and Vista Ridge. The centers are fully leased and anchored by major national tenants, including TJ Maxx, HomeGoods, Aldi, Petco, Old Navy, Sephora, and Five Below.
IPA Capital Markets structured the capital stack on behalf of Younger Partners Investments, a Dallas-based investment firm focused on acquiring grocery-anchored and lifestyle retail centers across Texas. The firm plans to implement capital improvements at the newly acquired properties, including enhanced signage and wayfinding.
The transaction reflects continued institutional demand for stabilized retail assets, particularly those anchored by essential and experiential tenants. With this acquisition, Younger Partners Investments expands its Texas retail footprint to nearly 1.4 million square feet and strengthens its presence in the Fort Worth market, where it already owns additional assets.
Marcus & Millichap reported that IPA Capital Markets provides a range of financing solutions, including debt, mezzanine financing, preferred equity, joint venture equity, and sponsor equity, serving both private and institutional real estate investors.
KEY QUOTES
“This transaction is a significant addition to the YPI portfolio and a testament to institutional capital’s demand for core retail.”
Adam Mengacci, Senior Managing Director, IPA Capital Markets
“This is a tremendous addition to our Texas portfolio, which has grown to nearly 1.4 million square feet of retail. This acquisition strengthens our presence in Tarrant County and marks our continued expansion into Fort Worth, where we also own Artisan Circle in the Cultural District. We plan to continue expanding our retail portfolio with similar acquisitions as investor demand for assets such as Presidio Junction remains strong.”
Micah Ashford, Managing Director, Younger Partners Investments
