Staff Reports | Business & Commerce
Brixton Capital, a vertically integrated operator of retail and multifamily properties, has recapitalized two grocery-anchored retail properties in a joint venture with TriPost Capital Partners.
TriPost is a real estate private equity firm focused on partnering with established middle-market real estate operating and development companies, according to a press release.
The portfolio includes Marketplace Beaumont in Beaumont, California, and Palmilla Center in Phoenix, Arizona. Marketplace Beaumont is a 177,000-square-foot shopping center that is 99% occupied and anchored by ALDI. It includes national retailers such as Ross, HomeGoods and Best Buy.
Brixton purchased the property in 2021.
Palmilla Center is a 104,000-square-foot center anchored by Fry’s Food & Drug, a Kroger brand, that Brixton purchased in 2018. Palmilla is also 99% occupied and features tenants including OfficeMax, PetSmart and Dollar Tree.
Each property is located to benefit from regional demographic and employment growth trends.
“We are thrilled to establish this partnership to continue delivering value to our investors and local communities,” said Marc Brutten, chairperson of Brixton Capital. “We’re proud of our work operating and upgrading these shopping centers, and we’re honored that TriPost recognizes that value.”
