Friday 26 May 2023

US-based grocery-anchored shopping centre platform ShopOne Centres REIT Inc., in partnership with joint venture partners, Pantheon and a global institutional investor, has acquired Heritage Park Plaza to enter into Massachusetts, the company said.

Terms of the transaction were not disclosed.

The 117,337 square foot Stop & Shop anchored shopping centre is located in East Longmeadow, a suburb of Springfield.

The strategic acquisition of Heritage Park Plaza, situated approximately 10 minutes from the Connecticut border, enables the JV to capitalise on the positive fundamentals of these two New England states,

Heritage Park Plaza is the 12th grocery-anchored neighborhood shopping centre the JV has acquired since March 2022. The JV has more than USD 1bn of total investment capacity and features a USD 225m senior credit facility.

ShopOne Centres is a fully integrated investment, management and operating platform focussed exclusively on designing and executing strategies in US grocery-anchored neighborhood shopping centres through joint venture partnerships with institutional investor clients.