World Class Capital Picks Up Kimco Portfolio

World Class Capital Group, an Austin-based privately owned national real estate investment firm, has added another 1.2 million square feet to its roster with the acquisition of an eight property portfolio purchased from Kimco Realty Corp. The shopping center portfolio includes properties located in Illinois, Iowa, Missouri and Oklahoma, spread across major markets across the Midwest including Chicago, Kansas City, St. Louis, Des Moines, and Oklahoma City. Terms of the deal were not disclosed.

"We are pleased to announce that we have closed on this strategic portfolio acquisition. This purchase from Kimco will allow us to increase our presence across the Midwest for our growing national retail property operating platform," said Nate Paul, President and CEO of World Class Capital Group. "We plan to maximize value by performing capital improvements to the properties, filling vacancies, and developing pad sites across the portfolio."

At the time of sale the portfolio was 93% leased with major tenants including Home Depot, Ross, TJ Maxx, Big Lots, Marshall's, Office Depot, and other big-box retailers. World Class has been on a bit of a buying spree, according to GlobeSt.com. Last month, it acquired Manhattan Place, a roughly 140,000-square-foot shopping center in New Orleans from Weingarten Realty. The company has acquired over 3-million-square-feet of real estate in 2014, and now owns and operates a portfolio with properties in 15 states and over 25 markets.

For more news and information visit Blumberg Capital Partners.

World Class Capital Closes Texas and California CRE Acquisitions

World Class Capital Group (WCCP), an Austin-based private real estate investment firm, announced this week that it had closed on two major commercial real estate acquisitions in Texas and California. The properties include North Oaks Shopping Center, a 450,000 square foot retail center in Houston, Texas, and Andrita Media Center, a 110,000 square foot creative office and studio building in Los Angeles, California.

WCCP purchased the properties for an undisclosed sum from unnamed buyers. It is known, however, that Broadcast Facilities, a media services company led by former Pixar and Fox executive Simon Bax and Bill Tillson, the President of Broadcast Cable Services, Inc., purchased the Andrita Media Center from Playboy Enterprises in April 2008. "Andrita Media Center provided us the opportunity to make a strategic buy on a high-quality asset and enter the Southern California market," said Nate Paul, President and CEO of WCCP.

For more news and information visit Blumberg Capital Partners.