WS Capital completes acquisition of Hilldale Shopping Center
Chestnut Hill, Mass. — WS Capital Partners, the institutional investment arm of WS Development, announced that it has completed the acquisition of Hilldale Shopping Center, a 474,000-sq.-ft. retail center located in Madison, Wis.
Anchored by Macy’s, Metcalfe’s Market, Sundance Cinemas and Target, Hilldale Shopping Center serves the entire Madison metropolitan area, including the nearby University of Wisconsin-Madison.
WSCP identified the off-market opportunity more than two years ago. It purchased the senior and junior non-performing loans on an all-cash basis in February, and successfully bid $52 million for both mortgages at a Sheriff’s sale in May. The bid was approved by the Dane County Court on June 4.
Inland raises $1.1 billion of investor capital
Oak Brook, Ill. — Inland Diversified Real Estate Trust announced it has raised over $1.1 billion of investor capital, which will be used to continue the company’s acquisitions of a diversified portfolio of commercial real estate properties.
“We believe that we have built an outstanding portfolio of stable, performing commercial real estate assets with very high occupancy, generating sustainable distributions for our investors,” said Barry Lazarus, president and COO of Inland Diversified.
As of June 30, Inland Diversified’s portfolio of assets totaled approximately $1.5 billion.
Three new tenants announced at Shoppes at Wyomissing
Reading, Pa. — Garrison Investment Group said that Charming Charlie, Berkshire Shoe & Boot, and Menchey Music have opened or will open soon at The Shoppes at Wyomissing, located in Reading, Pa.
The three new tenants total nearly 11,400 sq. ft. in the 103,108-sq.-ft. open-air lifestyle center, which is owned by the Garrison and managed by Levin Management.
Berkshire Shoe & Boot Shoppe recently opened a 1,984-sq.-ft. store, and Menchey Music opened in 3,395 sq. ft. in early September. Charming Charlie will follow with the opening of a 6,000-sq.-ft. store in mid-October.