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Acquire Real Estate, a real estate crowd investing platform, recently partnered with full-service real estate investment company, Katz Properties, to provide an investment opportunity in Pompano Marketplace, a 238,800 SF fully occupied retail center located in Pompano Beach, Florida.
Acquire Real Estate LogoThe crowd investing project closed quickly, attracting more than 15 Accredited Investors from across the U.S. that contributed between $10,000 and over $125,000 in investments. Acquire Real Estate pre-funded a $369,000 investment in the property, a $52-million retail center fully occupied by Wal-Mart Neighborhood Market, Stein Mart, Beall’s Outlet Store and Ross Dress for Less. Acquire investors are projected to receive average annual returns of between 7 and 8 percent paid quarterly over a 5- to 10-year term.
Steven Bettinger, CEO of Acquire Real Estate, stated:
“Acquire pursues stable, income-producing investment opportunities managed by top national Sponsors. In Pompano Marketplace we found exactly that, and were able to offer a smart long-term investment to our Members.”
Pompano Marketplace 1Katz Properties purchased Pompano Marketplace in March of 2015 for $46.8 million. The company primarily focuses on the acquisition and operation of grocery-anchored shopping centers and currently has under management more than 3.2 million square feet of commercial property.
Pompano Marketplace is considered a popular community shopping center located along Florida’s South Federal Highway. Investors were drawn to the strong-performing center due to its mix of anchor, restaurant and shop tenants as well as its location in the highly developed South Florida market. Anchor tenant Wal-Mart, whose lease runs through 2026, achieves over $35 million in sales at the property each year, making Pompano Marketplace one of the strongest-performing shopping centers in the area.
Hey there, I have multiple real estate investments in Florida but I have to say that Pompano Beach and Brevard County in general are among the best locations in the state. I have purchased a condo unit at the Sabbia Beach condominium, I am sure you are familiar with the project, (http://www.sabbiabeachcondos.com) and I am more than pleased. It is not yet completed but it will look stunning once it is ready. The way the market is going now, I am certain that 2016 will be a year to remember! All the best, Jerry
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