TriGate Property Partners IV Completes Sale of open-air retail destination CityCentre

TriGate Capital, LLC (“TriGate”), a leading middle-market real estate investment manager, has completed the sale of a 309,144 square foot open-air retail component of Houston’s premier mixed-use destination – CityCentre. The sale represents a successful investment outcome for TriGate Property Partners IV – which purchased the asset in May 2022.

“We recognized an opportunity to acquire institutional quality real estate at an attractive entry point during a time when the fate of retail assets was uncertain,” noted Matt Rooney, Managing Director at TriGate. “TriGate had conviction that at acquisition, the vacancy and the tenant dislocation we acquired was transitory, and that a well-located retail asset like CityCentre would be able to attract quality tenants in a post-Covid world. Through TriGate’s hands-on operating approach, we proved out our thesis and created significant value by investing capital, driving sales, increasing rents, and curating a more sustainable tenant mix.”

About TriGate Capital

TriGate Capital, LLC (TriGate) 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 approximately $2.0 billion of assets under management through multiple investment structures. The Company’s professionals have significant expertise in real estate operations, debt restructuring, and asset and company recapitalization. TriGate is currently investing via two vehicles: TriGate Property Partners V, LP and TriGate Income Partners, both focused on retail, residential and industrial in major markets.