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GlobeSt.com EXCLUSIVE: Hutensky Group Forms $200-Mil Shopping Center Fund

HARTFORD, CT-Spurred by what opportunities a troubled retail market might afford, The Hutensky Group has formed a $200 million investment fund with the John D. and Catherine T. MacArthur Foundation to invest in shopping centers, GlobeSt.com has learned.

By John Jordan | Updated on May 17, 2001

HARTFORD, CT-The Hutensky Group has formed a $200 million fund entitled the HRI Fund that will capitalize on opportunities presented by the current troubles in the retail sector, globest.com has learned. The shopping center developer tells GlobeSt.com that The John D. and Catherine T. MacArthur Foundation will invest in the fund.

Hutensky Group officials note that the fund will “seek to acquire retail properties with vacancy, operating deficiencies and/or expansion opportunities in markets east of the Mississippi River. In addition, the fund will invest in joint ventures with owners of properties that meet its criteria.”

Timothy J. Hoeppner, managing director of the John D. and Catherine T. MacArthur Foundation, comments, “Retail is currently out of favor in the investment community, that’s why we believe the timing is right to invest in this sector.” Hutensky Group officials report that the HRI Fund was officially formed on Monday, May 14.

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