Everything you wanted to know about the Urban Core, Uptown and Downtown Dallas, Texas & Dallas Ft. Worth Area Real Estate - Its growth, prosperity, setbacks and unprecedented revitalization is told here...Randall Turner of Harvard Companies, Inc 214-373-0007, 3500 Oak Lawn Avenue, Suite 325, Dallas, Texas 75219
Friday, October 31, 2014
Dallas’ Lincoln Retail working on $6 billion nationwide shopping center play
One of ARC-Retail Centers holdings is the Liberty Crossing shopping center in Rowlett. (ARC-Retail Centers)
Lincoln Property Co. is gearing up for a big wave if shopping center buying.
Lincoln’s Dallas-based retail division is teaming up with American Realty Capital – Retail Centers of America Inc. to acquire a major portfolio of retail properties.
The shopping centers all over the country would be owned by a non-traded real estate investment trust ARC-Retail Centers is preparing.
ARC-Retail Centers will handle the $1.5 billion offering and set up the REIT and Lincoln Retail REIT Services LLC is charged with finding the properties and providing services.
The partners have already done one REIT that owns about eight properties acquired for more than $250 million.
But the next REIT will be much larger.
“We will be buying $6 billion of retail over the next 36 months,” said Lincoln executive vice president Robert Dozier.
Lincoln Retail’s parent company is a 45-year-old firm with operations in 32 states. The company is best known locally for its apartment, retail and office development.
Its local retail holdings include Turtle Creek Village, Village on the Parkway in Addison and Arboretum Village and Lakewood shopping center in East Dallas.