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InvenTrust Buying Frenzy Hits L.A.

LOS ANGELES—The REIT buys Stevenson Ranch Plaza in Santa Clarita for $72.5 million, one of $330 million in transactions the investor has announced in the last month.

By Kelsi Maree Borland | kelsimareeborland | Updated on April 21, 2016

Ralphs The property is anchored by a Ralph’s grocery store.

LOS ANGELES—InvenTrust has acquired the Stevenson Ranch Plaza in the Santa Clarita Valley for $72.5 million. The investor has been on a buying frenzy to reposition its portfolio. This acquisition is one of $330 million worth of purchases that company has announced in the last month, all of which were located in top-tier markets. The name of the seller was not disclosed.

“Stevenson Ranch Plaza presented an excellent opportunity for the buyer to own an irreplaceable grocery-anchored retail center in a great neighborhood with upscale demographics,” Kevin Fryman, SVP at Hanley Investment Group, tells GlobeSt.com. “We are still seeing strong demand by institutional investors for well-located stable grocery-anchored retail centers.” Fryman and Hanley Investment Group president Ed Hanley represented the buyer and seller in the transaction.

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