(For more retail coverage, click GlobeSt.com/RETAIL.)
NEW YORK CITY-Prescott Capital Management, LLC, the investment and asset management unit of The Prescott Group, LLC, acquired a portfolio comprising six outlet center properties totaling 1.3 million sf from affiliates of Horizon Group Properties, Inc. of Chicago for $110.4 million, or $82 per sf of gross leasable area.
The six value retail assets are located in California, Nevada, Missouri, Minnesota, Michigan, and Georgia. Approximately 87% of the portfolio's operating gross leasable area was occupied at closing.
The broker in the deal was Johnson Capital.
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