TriGate Capital Purchases Shopping Center in Baton Rouge, LA
DALLAS, TEXAS – TriGate Capital has acquired Siegen Plaza – a 156,441 square foot shopping center – in Baton Rouge, LA. Siegen Plaza is located near the intersection of I-10 and Siegen Lane, which sees 113,000+ vehicles per day and is surrounded by strong demographics. The Property is shadow anchored by one the strongest performing Targets in the state and includes major anchors, Ross, Petco, and HomeGoods, as well as several first class outparcel restaurants.
TriGate’s Senior Vice President Keith Schneider commented, “Siegen Plaza represented an excellent opportunity to enter a strong retail submarket within Baton Rouge at a compelling basis. The Siegen Lane corridor is the major shopping destination in Baton Rouge, as evidenced by strong historical occupancies and robust tenant sales.”
TriGate would like to thank HFF’s Barry Brown and Ryan Shore who brokered the shopping center on behalf of the seller.
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 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.
Source: TriGate Capital