SAN ANTONIO--(BUSINESS WIRE)--Tryperion Partners, a private real estate investment firm, has acquired Gateway Plaza, a 97% occupied, 138,510-square-foot community shopping center anchored by Burlington Coat Factory that is strategically located at the interchange of Interstate 35 and Loop 1604 in San Antonio’s burgeoning metropolitan area. The acquisition, which is Tryperion’s second of a San Antonio REO property in less than a year, includes additional land for future development.
“We’re excited to expand our presence in San Antonio with the addition of Gateway Plaza, a well-located property in San Antonio’s Northeast submarket which is experiencing very strong economic growth,” said Tryperion partner Eliot Bencuya. “It’s a city that fits our strategy of investing in secondary Western and Midwestern U.S. markets with strong underlying fundamentals.”
“Gateway Plaza presented a unique blend of stable cash flow and upside potential,” added Tryperion partner Joseph Kessel. “The stabilized occupancy and lease term of Burlington Coat Factory and the junior anchors enable us to focus on leasing existing vacancies and either ground leasing or selling the development pads.”
Tryperion has engaged San Antonio-based Endura Advisors to market the existing vacancies and future development sites.
About Tryperion Partners
Tryperion Partners is a Los Angeles-based private real estate investment firm focused on value-add office, retail, hospitality, and multifamily investments in secondary Western and Midwestern U.S. markets. Tryperion’s founders have acquired and managed assets valued in excess of $4.5 billion across all major commercial property types. Tryperion acquired the portfolio through its Tryperion RE Fund I, L.P., a $50 million fully discretionary commingled fund. For more information, visit www.tryperion.com.