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Heslin, Becker Merge to Pursue Retail Deals

SEAL BEACH, CA-The newly formed firm combines the acquisition expertise of Heslin Holdings with Becker Properties' development capabilities.

By Bob Howard | Updated on August 22, 2007

SEAL BEACH, CA-Heslin Holdings Inc. of Newport Beach and Retail Holdings LLC of San Diego have merged to form a new firm called Heslin Becker Properties LLC that will focus on developing and investing in retail properties in the Western US, following two years in which the two firms operating as separate entities partnered on transactions totaling more than $100 million. Principal Matt Heslin of the new firm tells GlobeSt.com that the new company, with its headquarters in Seal Beach, will combine the acquisition expertise of Heslin Holdings with the development capabilities of Becker Properties principal Brad Becker.

Heslin tells GlobeSt.com that the new company will be buying and building in Southern California, Phoenix, Las Vegas and in the Pacific Northwest markets of Washington, Oregon and Idaho. The company has established a Pacific Northwest office in Boise that is headed by a new director of acquisitions, Andrea Nilson, who formerly was a surplus real estate manager for Albertsons.

Heslin Becker Properties will focus on neighborhood and community centers in the range of $5 million to $25 million, with “probably 50% of our acquisitions going forward slated to be ground-up construction and the other 50% value-added acquisitions,” Heslin says. He points out that Becker’s expertise embraces “all of the disciplines that go along with construction project financing and development, leasing and the like,” while Hesline himself will concentrate primarily on due diligence, acquisitions and lease-up.

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