Northpond Partners has joined forces with a well-known pension fund in the southeastern United States to establish Northpond Retail Partners, an evergreen investment vehicle worth $200 million. This exclusive fund will focus on acquiring unanchored neighborhood retail centers in the Southeast and select Sunbelt markets. The primary objective of this venture is to reposition, remerchandise, or redevelop real estate properties located in states such as the Carolinas, Georgia, and Tennessee.
The partnership’s strategy involves targeting all-cash purchases of properties that house convenience stores and service-oriented tenants. These include categories like food & beverage establishments, medical facilities, fitness centers,and health & beauty shops. The ideal multi-tenant properties for this fund would consist of smaller general-purpose spaces ranging from 1
