NORTH LAS VEGAS, Nevada--(BUSINESS WIRE)--ALTO Fund II is pleased to announce the recent sale of the Burlington-anchored, 122,133 SF shopping center located at 2189 West Craig Road in North Las Vegas, Nevada.
ALTO Fund II, in partnership with Brixton Capital, purchased the vacant former Target building in October 2014. Keeping in line with our value-add strategy, we sub-divided the space and added new tenants, InStyle Furniture, and Burlington, a Fortune 500 company with plans to open over 30 new stores in 2018, after opening over 40 stores in 2017. A 100% occupied property, it was sold to an affiliate of the Las Vegas-based Tiberti Management Company.
"This property showcases our repositioning capabilities, having taken a vacant space and turned it into a strong-anchored shopping center, filling a gap in the local shopping corridor,” says Mody Kidon, Co-Founder and Executive Chairman of ALTO Real Estate Funds. "Securing two strong eCommerce proof tenants further highlights the continued market demand for quality retail locations."
About ALTO Real Estate Funds
ALTO Real Estate Funds is a series of closed end investment funds specializing in value-add commercial real estate across the US. Established in 2010, ALTO is managed from New York City with regional offices in Dallas and Tel Aviv. ALTO’s investments provide a stabilizing component to portfolios, combining low risk profiles with a value-add approach, to target an attractive annual yield and stable cash flow. The management team works closely with a network of experienced industry contacts to identify solid investment opportunities. ALTO consistently demonstrates a strong and solid track record and consequently maintains a loyal investor base. To date, ALTO has invested in 58 properties, with a value of approximately $1.1 billion and representing approximately 11 million square feet. For further information, please visit www.alto-investments.com, or follow and connect with us on LinkedIn, Facebook and Twitter.
Nothing contained here is, or should be relied upon as, a promise or representation as to the future performance of ALTO Real Estate Funds. In considering any prior performance information contained herein, prospective investors should bear in mind that an investment in a fund entails a high degree of risk and that prior performance is not necessarily indicative of future results. There can be no assurance that a fund or the investments by a fund, as the context requires, will achieve comparable results or that projected returns, if any, will be met.
