Vestar Partners with Trigate Capital to Continue Revitalization of The Orchard Town Center
Dallas, TEXAS - TriGate Property Partners IV, L.P. recently closed on the acquisition of Orchard Town Center, a million+ square feet shopping center located in the Denver North Metro area. Orchard Town Center boasts a great selection of dining, shopping and entertainment experiences. The property is anchored by Target, Macy’s, Lifetime Fitness, AMC Theatres, JCPenney and Nordstrom Rack. The center features a strong restaurant lineup, numerous outdoor public spaces, a newly built A-Loft Hotel and two luxury apartment communities. Over the past year, nearly a dozen new tenants have opened, including Lululemon, Windfall Brewing Company, Elevated Q, Law’s Chophouse, and the new corporate headquarters of Ent Credit Union. The investment was acquired in a partnership with Vestar. Vestar will manage the Orchard Town Center project, adding to the center’s growing roster of tenants, working closely with the city and community on a variety of long-term initiatives and enhancing its robust calendar of events and programming.
“TriGate Capital is excited to work with Vestar on this project,” says Jason Obenhaus, Managing Director of TriGate. “We bring intellectual capital, structuring experience and operating capabilities to the partnership, so we think that, coupled with Vestar’s vision, will bring exceptional growth to Orchard Town Center over the coming months.”
“We’ve already seen a great deal of promise and growth at Orchard Town Center,” says David Larcher, President & COO of Vestar. “By partnering with TriGate, we’ll be able to accelerate this growth from an even stronger financial position. We’re excited for what this means for all of our retail partners there.”
Brad Lyons, Tim Richey and Jenny Knowlton of CBRE Capital Markets, Institutional Properties & National Retail Partners represented the seller in the transaction. Brady O’Donnell, Jeff Halsey, Jill Haug and Alex Scott with CBRE Debt & Structured Finance/Institutional Properties arranged the acquisition financing on behalf of TriGate and Vestar.
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 current assets of management of nearly $2.0 billion through multiple types of transaction structures. The Company’s professionals have significant expertise in real estate operations, debt restructuring, and asset and company recapitalization.
TriGate manages four fully discretionary real estate funds, TriGate Property Partners, LP (Fully Realized), TriGate Property Partners II, LP (Fund II), TriGate Property Partners III, L.P. (Fund III), and TriGate Property Partners IV, LP (Fund IV) which are the vehicles through which TriGate conducts its investment strategy. Fund II and Fund III are fully invested, and Fund IV is presently in its investment period.
As one of the leading privately held real estate companies in the United States, Vestar acquires, develops and manages shopping and entertainment destinations that serve as community focal points. Since its inception in 1989, Vestar has earned a reputation for integrity and responsibility in the fields of retail property development, operations, leasing and marketing. Vestar's current portfolio of retail properties totals 30 million square feet throughout the western states. For more information, please visit vestar.com.
About The Orchard Town Center
Westminster’s Orchard Town Center is much more than a retail and dining complex – it’s a community hub offering unique, interactive spaces and experiences for Coloradans of all ages. Vibrant outdoor spaces set against breathtaking mountain views, children’s play zones and cozy fireplace-adjacent conversation areas are just some of the options for locals looking to connect, explore and share. Conveniently located at the cross-section of Interstate 25 and West 144th Avenue, Orchard Town Center boasts more than a million square feet of retail space, including a continuously growing list of 90+ retailers and a luxurious Aloft Hotel.To learn more about The Orchard Town Center, managed by Vestar, visit www.theorchardtowncenter.com.