Prudent Growth Partners has acquired Rolesville Town Center Mall, a shopping mall based in Rolesville, North Carolina. No financial terms were disclosed.
CHAPEL HILL, N.C. (PRWEB) JUNE 04, 2019
Prudent Growth Partners, LLC, a Chapel Hill, NC based private equity real estate firm, has acquired the 19,500 square foot Rolesville Town Center Mall, located at 6310-6470 Rogers Road, Rolesville, NC.
The shopping center is 100% occupied and features a number of strong, service-based tenants, including the US Post Office, Rolesville Crossfit, Kruse Chiropractic, and Pizza Hut.
“We loved the location and the tenant mix,” said Tom Hahn, President of Prudent Growth Partners. “Rolesville is growing like crazy – it is the fastest growing town in North Carolina – and this shopping center is going to benefit from that growth.”
Prudent Growth Partners focuses on acquiring garden style apartment communities, typically with 75 to 200 apartments, as well as neighborhood retail centers and office buildings.
“We really like these neighborhood centers that are full of “internet resistant” tenants. We believe that properties like this are excellent, conservative, long-term holds,” stated Hahn. “We see more opportunity in retail right now and are hoping to add several more assets like this to our portfolio in the coming months.”
Prudent Growth Partners has a growing network of accredited investors who participate in each transaction. “Our deals are structured to provide solid cash flow to our investors each quarter – typically an 8% annualized return – and more upside over time as the debt is paid off and the properties increase in value,” said Hahn. “It is a passive investment for the investor and provides great returns and a nice hedge against future inflation.”
Prudent Growth Partners, LLC is a private equity real estate investment company based in Chapel Hill, NC. PGP’s focus is on properties that provide exceptional returns on invested capital along with the possibility of longer-term capital gains achieved by expert management and future price appreciation.