Select Strategies Realty Announces $78 Million Portfolio Acquisition in Metro St. Louis, MO

Reynolds Thompson

CINCINNATI, OH -- Select Strategies Retail Holdings V, LLC, an affiliate of privately held real estate investment firm Select Strategies Realty, announced the completion of its $78.4 million acquisition of a seven-property shopping center portfolio in the greater St. Louis metropolitan area.

The 1,100,000 square foot portfolio is 91% leased and is anchored by a strong group of national tenants including ALDI, Fresh Thyme, Burlington and Planet Fitness.

Select Strategies Retail Holdings V made the acquisition on behalf of the firm’s principals and investment partners.

“Select’s investment strategy is driven by our analysis of retail trade areas, synthesized with our proprietary STAR methodology,” said Reynolds Thompson, chairman and chief investment officer.

“We combine an operator’s perspective with decades of investment experience, which allows us to identify unique investment opportunities with significant value-add components.”

Jeremy Sain

The HFF team that represented Select Strategies Retail Holdings V was led by managing director Jeremy Sain.

The St. Louis properties include Creve Coeur at 955 Woodcrest Executive Drive and 12139 Olive Boulevard; Kings Highway at 4650 Lansdowne Avenue; LeMay Shopping Center at 1000 LeMay Ferry Road; Gravois Plaza at 3727 Bamberger Ave.; Kirkwood Crossing at 1259 S. Kirkwood Rd. and Overland Crossing at 8901 Page Avenue.

 The portfolio also includes Fairview City Centre in Fairview Heights, Illinois.

The portfolio’s anchor tenants include The Home Depot, Fresh Thyme Farmer’s Market, ALDI, Office Max, Kohl’s, Home Goods, Dick’s Sporting Goods, Burlington Coat Factory, Hobby Lobby and Planet Fitness.

“We know this market well,” said Brian Neltner, CEO of Select Strategies Realty. “We have Select professionals on the ground in these specific sub-markets, so we can apply our leasing, development and management expertise to these assets.

Brian Neltner

"Given our long-standing presence and experience in this market, we expect to provide strong current returns and create long-term value for our investors.”

This transaction reflects the latest success of the Select Retail Advisors program, formed in 2015 to pursue investment opportunities on behalf of the firm’s principals and investment partners.

The value of transactions sponsored by Select now exceeds $175 million.

"We are appreciative of the opportunity to purchase these assets in a direct manner, which we believe is reflective of our reputation as buyers and operators in our primary markets", commented Neltner.

“We continue to see a disconnect between the investment community’s perception of risk and the risk we believe to be reality,” said Thompson.

 “There is an opportunity to identify attractive assets as public and institutional investors exit certain markets. Select’s trade area oriented investment protocol provides the framework for identifying these types of opportunities.”

Holiday Fenoglio Fowler, L.P. (HFF) provided advisory services to Select Strategies Retail Holdings V relating to the sourcing of debt capital for this portfolio. HFF and its affiliates operate out of 26 offices and are a leading provider of commercial real estate and capital market services to the global commercial real estate industry.

CONTACTS:

Natalie Hastings

513.376.2728

 natalie@nataliehastings.com