Fountain Mathes I acquires shopping center portfolio

New York -- Fountain Capital and Cheney & Mathes Properties have announced through their partnership, Fountain Mathes I, that they have acquired a 450,000-sq.-ft. portfolio of retail shopping centers with 16 properties in 10 states. Each center is shadow-anchored by Wal-Mart projects.



The centers largely contain national credit tenants such as AT&T, Cato, Dollar Tree, GameStop, Hibbett Sports, Payless and Shoe Show. The portfolio is 95% occupied.



Fountain Mathes I will manage the property in-house. The Retail Connection will oversee leasing for the portfolio.



CBRE advised the partnership on capital structure. Goldman Sachs Mortgage Company provided the debt. Kane Russell Coleman & Logan and Geary Porter & Donovan advised on the transaction. Hayes, Alford & Johnson PLLC Lawyers Title Dallas HAJ handled the closing.