Prudent Growth Partners has acquired Hoover, Alabama-based South Shades Crest Station shopping center. The purchase price is $4.53 million.
CHAPEL HILL, N.C. (PRWEB) AUGUST 25, 2021
Prudent Growth Partners, LLC, a Chapel Hill, NC based private equity real estate firm, has completed its $4.53 million acquisition of the South Shades Crest Station shopping center, located at 3421 & 3435 S. Shades Crest Rd., Hoover, AL.
Built in 2002, the property is 95% leased to a strong group of twelve largely e-commerce resistant tenants, including State Farm, Sylvan Learning, Therapy South & Sports Medical, Exit Realty, Precision Tactical Arms Company, and Fit People (Personal Training).
The property is located near expanding and planned residential developments, including Blackridge and the recently approved 2,500 home planned community on 800 acres purchased by Signature Homes.
“We think that this is a great purchase for PGP and our investors,” said Tom Hahn, President of Prudent Growth Partners. “We have been looking at the Hoover and Birmingham markets for some time now, and we are excited to enter them with this acquisition.”
Prudent Growth Partners, LLC is a private equity real estate investment company based in Chapel Hill, NC. The firm focuses on properties that tend to be overlooked by larger institutions and which provide exceptional returns on invested capital along with the possibility of longer-term capital gains achieved by expert management and future price appreciation.