TriGate Capital Partnership sells Tempe Retail Center
DALLAS, TEXAS – TriGate Capital, with partner RSF Partners, sold an LA Fitness anchored 147,469 square foot retail center in Tempe, Arizona. The 98% leased shopping center sits on roughly 18 acres and is centrally located in the Phoenix metro area at the intersection of Priest Drive and Elliot Road.
TriGate’s Paul Sharp commented, “This was great execution of repositioning a well-located asset through the redevelopment and re-tenanting of several tenant spaces, resulting in a desirable stabilized asset.”
TriGate would like to thank CBRE’s Jesse Goldsmith, Steve Julius, Phillip Voorhees, Jimmy Slusher and Sean Heitzler who brokered the shopping center on behalf of TriGate and RSF.
About TriGate Capital
TriGate Capital, LLC (TriGate Capital) is a leading real estate investment manager focused on the recapitalization and repositioning of real estate assets and companies. TriGate is based in Dallas, TX and has completed investments throughout the United States.
TriGate manages three fully discretionary real estate funds, TriGate Property Partners, LP (Fund I), TriGate Property Partners II, LP (Fund II) and TriGate Property Partners III, L.P. (Fund III), which are the vehicles through which TriGate conducts its investment strategy. Fund I and Fund II are fully invested and Fund III is presently in its investment period. TriGate purchased the Property through its current investment vehicle – TriGate Property Partners III, LLC – which closed fundraising in 2016 with $340 million of equity commitments.
TriGate’s team has been responsible for acquiring over $11 billion of real estate assets through multiple types of transaction structures. The Company’s professionals have significant expertise in real estate operations, debt restructuring, and asset and company recapitalization. Additionally, the team has extensive expertise in real estate asset selection and structuring transactions to weather different stages in the real estate investment cycle.