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Grocery-Anchored REIT Comes to Market

ShopOne Centers is led by CEO Michael Carroll, who had served in a similar capacity at Brixmor Property Group.

By Paul Bubny | paulbubny | Updated on October 02, 2017

Exterior of shopping center ShopOne recently acquired Conyers Commons in the suburbs of Atlanta.

NEW YORK CITY—With an executive team being assembled by industry veteran Michael Carroll, ShopOne Centers REIT Inc. has launched as a private real estate trust focused on grocery-anchored shopping centers. The new platform comes to market with a portfolio of 46 assets in eight states, with the majority of its equity owned by funds affiliated with Davidson Kempner Capital Management LP.

“We believe strongly in the long-term fundamentals supporting continued investment in shopping centers anchored by top-performing grocers, leading discounters and off-price apparel retailers,” says Carroll, CEO of the newly launched REIT. “We intend to be very active in the market as we seek to grow our portfolio and gain scale in high-density, in-fill metro areas. With a proven operating platform, deep institutional knowledge of the dynamic retail landscape and an extensive professional network, we are well-positioned to carry out our business objectives.”

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