WESTWOOD FINANCIAL ANNOUNCES FIRST INVESTMENT OFFERING WITH CROWDSTREET
LOS ANGELES, Aug. 29, 2022 /PRNewswire/ -- Westwood Financial, a leading retail real estate investment firm, announced today its first investment offering with CrowdStreet, the nation's largest online private equity real estate investing platform. Village at Peachtree Corners, a 100% leased grocery anchored neighborhood shopping center in Atlanta, is being listed on CrowdStreet's Marketplace. "We are excited to partner with CrowdStreet on this retail center. The level of due diligence they performed on the investment and on Westwood Financial was of high quality, both in depth and scope," said Mark Bratt, Chief Executive Officer. "CrowdStreet can be a viable alternative as Westwood expands its current investor base," Mark added.
The 88,850 square feet center was purchased in February 2022 and features national anchor tenants Lidl, the largest retailer in Europe, and PopShelf, a wholly owned subsidiary of Dollar General. The property is located within the affluent city of Peachtree Corners which is characterized by high income, well-educated working families, and is the largest city in Gwinnett County. The center achieved 23,884 square feet of leasing velocity within the first six months of 2022, bringing the center to 100% leased. "The combination of the asset's ideal location and stable cash flow makes it an excellent investment opportunity. In addition, we not only already have the benefit of a large Atlanta portfolio, but also an experienced leasing and property management team in place at our Atlanta office," said Lauren Ball, SVP and Head of Leasing.
Westwood will retain a minimum of 20% ownership in the asset and is looking to raise approximately $6.1 million dollars of Membership interests with a minimum investment of $25,000 from accredited investors. Details of the investment opportunity are posted on CrowdStreet's website and will be available for 45 days or until the target investment amount is reached. Offers will be accepted after the scheduled live webinar with Westwood executives on September 8th, which will include an overview of the opportunity and a Q&A session with potential investors.
About Westwood Financial
Westwood Financial owns / manages and operates over 124 high-quality shopping centers located in top U.S. metropolitan markets including Atlanta, Charlotte, Dallas, Denver, Jacksonville, Los Angeles, Orlando, Phoenix, and Raleigh. The centers are primarily anchored by top-tier grocers as well as leading service and experiential-based operators. Established in 1970, Westwood Financial is headquartered in Los Angeles, with regional offices in Atlanta, Dallas, and Scottsdale. More information is available at www.westfin.com.
Contact:
Brett Johnston
Vice President Operations/Investor Relations
[email protected]
SOURCE Westwood Financial
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