FORT WORTH, Texas--(BUSINESS WIRE)--A joint venture between ALTO Real Estate Funds and Trademark Property Company has acquired 5000 South Hulen, an 86,943-square-foot open-air community shopping center located in Fort Worth, Texas.
The retail destination is 95 percent occupied by a mix of national and regional retailers, including anchors Barnes & Noble and Old Navy, as well as a number of community service retailers such as Potbelly Sandwich, Jamba Juice, Sprint, America’s Best Contacts & Eyeglasses, and Ideal Image, to name a few.
Scott G. Onufrey, ALTO’s President & Managing Partner stated: “This property represents a terrific investment opportunity for ALTO. It is an irreplaceable location on a heavily trafficked intersection in a strong and growing market. We are excited by the long-term prospects for the property and to be partnering with a first-class operator like Trademark.”
Built in 2005, 5000 South Hulen is located in west Fort Worth, adjacent to Hulen Mall. With an average daily traffic count of 42,200, the property sits in Fort Worth’s most dynamic and sought-after retail trade corridor, and adjacent to several shopping destinations.
Both ALTO and Trademark are discriminating buyers of premier community and power centers at strong locations with high performing tenants that do not require a grocery anchor.
“5000 South Hulen is an ideal fit within our acquisition strategy,” said Tommy Miller, CIO, Trademark Property Co. “It is a best-in-class property, with a strong tenant mix, located within one of the most established and recognized retail nodes in Fort Worth. After all, it’s all about location, location, location.”
The acquisition of 5000 South Hulen is the first joint venture between ALTO Fund III and Trademark Property Company.
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.
About Trademark Property Company
Trademark Property Company is an operator, investor and developer of award-winning, mixed-use town centers, specialty, community, power centers and enclosed regional malls. In its over 25 years of business, Fort Worth, Texas-based Trademark has invested in or developed more than 11.8 million square feet of retail and mixed-use assets worth more than $2.5 billion. Trademark’s experienced team of 120 employees is responsible for approximately 6.5 million square feet of retail and mixed-use projects currently in operation or development/redevelopment, including: 5000 South Hulen (Fort Worth, Texas), Alliance Town Center (Fort Worth, Texas), Burr Ridge Village Center (Chicago, Ill.), Glades Plaza (Boca Raton, Fla.), Hillside Village (Cedar Hill, Texas), La Palmera (Corpus Christi, Texas), Market Street Flowood (Flowood, Miss.), Market Street – The Woodlands (The Woodlands, Texas), First Street Napa (Napa, Calif.), Perkins Rowe (Baton Rouge, La.), Rice Village (Houston, Texas), Saddle Creek (Germantown, Tenn.), Victory Park (Dallas, Texas), Watters Creek (Allen, Texas), Waterside (Fort Worth, Texas), and WestBend (Fort Worth, Texas). For more information, visit www.trademarkproperty.com or interact on Facebook, Twitter and Instagram.
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.