Pine Tree Silverpeak JV teams with Privet to acquire Alabama center

Northbrook, Ill. -- Pine Tree Silverpeak Retail Partners, a joint venture between Northbrook, Ill.-based Pine Tree Commercial Realty and New York City-based Silverpeak Real Estate Partners, recently teamed up with New York City-based Privet Investments in the acquisition of Hamilton Place Shopping Center in Auburn, Ala.

The partners purchased the grocery-anchored shopping center from an Alabama-based developer, assuming existing financing. Publix anchors the 79,540-sq.-ft. center.

Pine Tree Commercial Realty will be handling the property management and will share leasing responsibilities with The Shopping Center Group, based in Birmingham, Ala.

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