ORLANDO, Florida – July 1, 2021 – Soor Capital announced the launch of the Soor Essential Retail Venture, an exclusive joint venture partnership with CenterSquare Investment Management focused on aggregating a portfolio of institutional quality, Class A, "e-commerce resistant" service retail assets across the United States.
Strategic Asset Acquisition
The joint venture launched with the acquisition of Nona Park, a 40,308 square foot service retail asset located in Orlando, Florida. The property represents the first investment in what will become a diversified portfolio of essential service retail assets strategically positioned across high-growth metropolitan markets throughout the United States.
Nona Park consists of five buildings constructed between 2014-2018 and features a strong tenant roster comprised of approximately 47.6% national and 26.5% regional tenants including Nemours, Domino's, and Allstate. The property is strategically located on Narcoossee Road in the Lake Nona submarket, averaging approximately 39,000 vehicles per day.
Exceptional Partnership Profile
CenterSquare Investment Management, founded in 1987 and headquartered in West Conshohocken, Pennsylvania, is a leading real estate investment management firm with over $12 billion in assets under management. The company serves institutional investors globally and employs more than 170 professionals worldwide across approximately 28 production facilities located in 9 countries.
"This joint venture represents a strategic partnership with one of the world's most respected real estate investment management companies," said a spokesperson for Soor Capital. "CenterSquare's institutional expertise creates an exceptional opportunity to build a premier essential service retail portfolio."
Investment Highlights
The joint venture offers compelling characteristics including:
- E-commerce resistant service retail assets providing essential lifestyle services
- Prime locations strategically positioned along high-traffic corridors in growth markets
- Diversified tenant mix across food & beverage, health & medical, beauty, and professional services
- Institutional quality Class A properties with strong demographic fundamentals
- Stable cash flow profile with built-in rent escalations
Market Position
The Essential Service Retail subsector focuses on lifestyle essential services that require customers to visit physical locations, thus avoiding much of the widespread "brick and mortar" retail disruption caused by e-commerce proliferation. Many ESR tenants were deemed essential businesses and remained open throughout the COVID-19 pandemic, demonstrating the resilience of this asset class.
Properties are typically strategically located along highly trafficked roads on visible, well-lit major intersections, designed to attract national, regional, and local tenants across multiple service categories.
Strategic Partnership
Soor Capital serves as investor level advisor and asset manager for the joint venture, while CenterSquare Investment Management acts as joint venture partner, bringing institutional expertise and market knowledge spanning multiple real estate sectors and risk-return profiles. Arch Street Capital Advisors, L.L.C. serves as property level advisor and asset manager, leveraging their extensive experience in advising international investors on U.S. real estate strategies.
About CenterSquare Investment Management
CenterSquare Investment Management is a leading real estate investment management firm specializing in listed and private real estate investments globally. Since 1987, the firm has managed investments across the real estate capital structure, including equity and debt strategies in both public and private markets.
About Arch Street Capital Advisors
Arch Street Capital Advisors, L.L.C. is a full service real estate investment and advisory firm formed in 2003. The firm specializes in advising international investors on their U.S. real estate strategies and has advised clients on more than $7.3 billion of transactions across multiple real estate sectors and risk-return profiles.
About Soor Capital
Soor Capital is a private equity real estate firm offering comprehensive investment services across the USA, UK, Europe, and GCC regions. The firm specializes in acquiring institutional-quality real estate assets with superior tenant profiles and prime market locations. Since its establishment in 2018, Soor has transacted over $230 million of private equity real estate investments.
