Charlotte Shopping Centers
Charlotte-based Aston Properties has consolidated a profile of 17 malls in vermont, sc and Virginia under a brand new business labeled as Aston Realty Investment Company and it has guaranteed a five-year $80 million unsecured credit center with Wells Fargo & Co.
This new organization is among the state’s biggest proprietors and providers of retail properties in Carolinas.
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The centers have an occupancy price in excess of 92% and tend to be mostly anchored by food markets. The portfolio includes three Harris Teeter-anchored facilities and one Publix-anchored center into the Charlotte marketplace. The new Aston-managed platform is expected to provide more capital to expand the portfolio, increase the efficiency of the acquisition process and simplify the governance of the 17 shopping centers.
“Our core strategy of buying well-located neighborhood and convenience retail malls remains the same, and then we are specifically stoked up about further expanding our long-lasting relationship with Wells Fargo, ” stated George Dewey, president of Aston characteristics. “This is a unique part for Aston along with the enhanced ownership structure we have been well-positioned to grow for the following 10 to 15 many years.”
The Charlotte-area shopping centers inside profile are Colony spot, The Village Commons (phase one), Mint Hill Pavilion and McKee Farms.
Founded in 1980, Aston characteristics focuses primarily on the development, acquisition, renting and handling of shopping centers for the Southeast and mid-Atlantic.
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