Dunhill Partners Acquires Broadway Street Retail Center
Dallas based, Dunhill Partners acquires Broadway Street Retail Center, a fully stabilized, two story, 39,333 sq.ft. shopping center on a prime retail corridor in San Antonio, Texas. The asset is 100% leased with strong cash flow and a complimentary mix of retail, office and medical businesses.
Dunhill’s Chairman and CEO, Bill Hutchinson, who lead the acquisition team, said “the acquisition of Broadway Street Retail Center aligns with our opportunistic strategy of acquiring well located properties in underrepresented markets with high growth demographic trends.” Built in 2006, and renovated in 2018, the property is situated adjacent to San Antonio’s most prestigious neighborhoods on Broadway Street / Interstate 410 and close to San Antonio International Airport. “We were able to secure favorable financing terms, coupled with full occupancy and the ability to increase rental rates, the property will be accretive to investment partner’s portfolio returns over time.” added Hutchinson.
“This is our second tuck-in acquisition in the 4th quarter this year. We are excited about the opportunities our team has sourced and is presently analyzing. We will only commit capital towards properties that meet our high due diligence standards and we expect to release additional announcements in the coming months”, said Hutchinson.
Dunhill Partners is one of the largest privately held commercial real estate investment companies in the U.S. consummating over $5 billion in acquisitions, including the acclaimed Dallas Design District which sold earlier this year.
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