#United States #New York #Grocery Retail #TriPost Capital #Brixton Capital

TriPost Partners with Brixton Capital to Acquire Grocery-Anchored Retail Portfolio

TriPost Capital Partners, LLC, a notable player in the realm of real estate private equity, has announced its latest strategic move to acquire a stake in a grocery-anchored retail portfolio situated in the rapidly expanding markets of the Western United States. This partnership with Brixton Capital, a company renowned for its vertically integrated approach to retail and multifamily properties, marks TriPost's second significant investment executed through its Asset Solutions strategy.

Details of the Portfolio

The retail portfolio comprises two high-profile shopping centers. The first, named Marketplace Beaumont, is located in Beaumont, California. This expansive shopping center covers approximately 177,000 square feet and enjoys an impressive occupancy rate of 99%. It is anchored by the grocery chain ALDI, complemented by a diverse mix of well-known national retailers, including Ross, HomeGoods, and Best Buy. What makes this property particularly attractive is its strategic positioning off Interstate 10, within the thriving Inland Empire submarket of Los Angeles. The area is recognized for its strong population growth and high median household incomes, contributing to its historical occupancy rates remaining above 90% since 2021.

The second property, Palmilla Center in Phoenix, Arizona, occupies 104,000 square feet and is similarly successful, boasting an occupancy rate of 99%. This center is shadow anchored by Fry's Food & Drug, which is part of the leading Kroger brand. The retail space is home to national tenants like OfficeMax, PetSmart, and Dollar Tree. Its location along Interstate 10 places it in a burgeoning residential corridor, surrounded by over 1,200 existing multifamily units, with an additional development of approximately 3,600 units on the horizon.

Strategic Insights from Leaders

Brad Carroll, Managing Partner and Co-Founder of TriPost Capital Partners, emphasized the significance of this acquisition. He stated, “This acquisition exemplifies the opportunities we seek to pursue through our Asset Solutions strategy, as necessity-based and grocery-anchored retail properties in high-growth markets continue to demonstrate exceptional resilience amid broader industry shifts.” Carroll highlighted the favorable economic conditions in regions such as the Inland Empire and Phoenix, where both population increase and employment growth create an ideal backdrop for sustainable income and long-term value generation.

TriPost’s Asset Solutions strategy is foundational to its approach, allowing for the acquisition of illiquid, asset-level ownership positions in high-quality properties from current real estate owners in the secondary market. TriPost’s reputation as a reliable capital solutions provider is rooted in its successful collaborations with operators to unlock value in various real estate sectors.

Future Prospects and Goals

In a statement regarding the partnership, Marc Brutten, Chairman of Brixton Capital, shared his enthusiasm for the investment. “We are excited to maintain and deepen our investment in these assets alongside TriPost,” he commented. Brutten highlighted their ongoing commitment to enhancing the grocery-anchored retail properties, emphasizing the shared goal of delivering value to both investors and local communities.

With TriPost managing over $1.2 billion in assets and a portfolio that includes more than 650 properties across 40 states, this acquisition marks another step in their ongoing efforts to expand their footprint and influence in the real estate market. TriPost’s ability to adapt and thrive in various market conditions underscores its strategic foresight and commitment to excellence in real estate investment.

About TriPost and Brixton Capital

TriPost Capital Partners is a multi-strategy real estate private equity firm based in New York, founded in 2014. It aims to provide tailored capital solutions to real estate operators and developers through its Platform Solutions and Asset Solutions strategies. Brixton Capital, located in San Diego, specializes in acquiring and repositioning retail and multifamily assets throughout the Western and Southwestern United States, leveraging over four decades of real estate investment experience.

This recent acquisition not only enhances the portfolios of both firms but also positions them at the forefront of an evolving retail landscape, paving the way for future growth and investment opportunities.