#United States #Hamilton Lane #Las Vegas #CenterSquare #Tenaya Village

CenterSquare and Hamilton Lane Form Strategic Partnership

In an exciting development in the retail investment landscape, CenterSquare Investment Management has partnered with Hamilton Lane to recapitalize Tenaya Village, a notable Essential Service Retail (ESR) shopping center located in suburban Las Vegas. This strategic alliance marks a significant advancement, with Hamilton Lane becoming the majority investor in the approximately 50,000-square-foot center, while CenterSquare retains a minority stake.

Since acquiring the unanchored retail center in 2022, CenterSquare has witnessed substantial growth driven by its prime location near a busy highway intersection, transforming Tenaya Village into a highly sought-after destination for tenants. The recapitalization reflects growing investor interest in the shopping center sector, particularly in areas that prioritize essential services.

Rob Holuba, Co-Chief Investment Officer at CenterSquare, shared his enthusiasm about the partnership, stating, "We’re thrilled to partner with Hamilton Lane on this opportunity, and grateful for the trust they have placed in CenterSquare and our platform." He emphasized that Hamilton Lane's involvement further validates CenterSquare's strategy and highlights the ongoing opportunities available in the retail sector.

Growth in Essential Service Retail

The significant demand for ESR locations has been a driving force in recent retail investment trends. As people increasingly turn to essential services for their daily needs, properties like Tenaya Village are ideally positioned to leverage this shift. Elizabeth Bell, Co-Head of Real Estate at Hamilton Lane, reiterated her firm's commitment by stating, "We hold strong conviction not only in the ESR niche but also in the CenterSquare team and their capacity to enhance Tenaya Village's long-term performance through disciplined property management and active leasing efforts."

This collaboration showcases a broader trend where private equity firms are seeking to enhance their real estate portfolios by investing in essential retail centers. Hamilton Lane, boasting over 30 years of experience in private markets investing, continues to demonstrate its capability to identify compelling investment opportunities in the niche of ESR.

The Future of Tenaya Village

With CenterSquare’s extensive experience in the retail landscape, their focus on disciplined property management and active leasing strategies is expected to further enhance the center's performance. The partnership enriches CenterSquare's status as a leader in essential service retail, expanding its portfolio to over 80 shopping centers across the country, managing assets exceeding $1 billion.

The partnership with Hamilton Lane provides a unique opportunity for both firms to leverage their strengths and drive value in a sector showing resilience and growth potential. As financial institutions adapt to the shifting retail dynamics, this move signifies confidence in the long-term resilience of essential retail sectors.

About the Companies

Founded in 1987, CenterSquare Investment Management is a well-established firm that specializes in real assets, focusing on listed real estate, private equity, and real estate debt. Headquartered in suburban Philadelphia, the firm manages $14 billion in assets and has garnered a reputation for aligning with the best interests of its clients and partners.

Hamilton Lane, listed on Nasdaq as HLNE, ranks as one of the premier investment firms dedicated to private markets. With a broad global presence and $1 trillion in assets under management, Hamilton Lane offers a diverse suite of investment programs to meet the needs of clients across North America, Europe, Asia, and the Middle East.

As both firms continue to push boundaries in the realm of retail investment, the recapitalization of Tenaya Village validates their commitment to enhancing the shopping experience while providing essential services to the community.