OAK BROOK, IL—InvenTrust Properties Corp. recently acquired a pair of open air retail centers in two of the top real estate markets in the US, but the deals reveal just one part of the Oak Brook, IL-based firm's national acquisitions strategy. It acquired Rio Pinar Plaza, a 124,283 square foot shopping center located in Orlando, for about $34 million and Price Plaza, a 205,813 square foot power center located in Katy, TX, a suburb of Houston, for about $35.8 million.
"InvenTrust has what we call a "Hub and Spoke" strategy," Michael E. Podboy, executive vice president – chief financial officer, chief investment officer of InvenTrust, tells GlobeSt.com. "Meaning, we will examine key markets and their surrounding sub-markets to invest in premium yielding open-air centers that match our investment criteria."
For example, both Rio Pinar and Price Plaza are located within key markets, but InvenTrust has also "invested in sub-markets just outside key MSAs like The Highlands of Flower Mound outside Dallas and Westpark Shopping Center just outside the key MSA of Washington DC."
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
