Cohen & Steers Income Opportunities REIT, Inc. Acquires Deer Valley Towne Center
Cohen & Steers Income Opportunities REIT (NYSE:CNS) has acquired Deer Valley Towne Center, a 159,000 square foot community shopping center in Phoenix's Deer Valley submarket. The property, which is 94% leased, was acquired through a joint venture with Sterling Organization, marking CNS's fourth acquisition with Sterling and sixth open-air shopping center in its portfolio.
The Target-shadow-anchored center is strategically located near 800 apartment units and 200 hospital beds, serving a population of 109,000 within a 3-mile radius with a median household income of $72,000. The property benefits from Phoenix's projected 1.3% population growth over the next five years and Arizona's favorable tax environment. This acquisition aligns with CNS's strategy of investing in high-quality, necessity-driven shopping centers, amid record-high open-air shopping center occupancy rates of 95.7%.
Cohen & Steers Income Opportunities REIT (NYSE:CNS) ha acquisito Deer Valley Towne Center, un centro commerciale di quartiere di 159.000 piedi quadrati situato nel submercato Deer Valley di Phoenix. La proprietà, che è locata al 94%, è stata acquistata attraverso una joint venture con Sterling Organization, rappresentando la quarta acquisizione di CNS con Sterling e il sesto centro commerciale all'aperto nel suo portafoglio.
Il centro ancorato da Target-shadow è strategicamente posizionato vicino a 800 unità abitative e 200 posti letto ospedalieri, servendo una popolazione di 109.000 persone entro un raggio di 3 miglia con un reddito mediano familiare di 72.000 dollari. La proprietà beneficia della prevista crescita demografica dell'1,3% di Phoenix nei prossimi cinque anni e del favorevole contesto fiscale dell'Arizona. Questa acquisizione è in linea con la strategia di CNS di investire in centri commerciali di alta qualità e orientati alle necessità, in un momento in cui i tassi di occupazione dei centri commerciali all'aperto raggiungono livelli record del 95,7%.
Cohen & Steers Income Opportunities REIT (NYSE:CNS) ha adquirido Deer Valley Towne Center, un centro comercial comunitario de 159,000 pies cuadrados ubicado en el submercado Deer Valley de Phoenix. La propiedad, que está alquilada en un 94%, fue adquirida mediante una empresa conjunta con Sterling Organization, marcando la cuarta adquisición de CNS con Sterling y el sexto centro comercial al aire libre en su cartera.
El centro anclado por Target-shadow está estratégicamente ubicado cerca de 800 unidades de apartamentos y 200 camas hospitalarias, atendiendo a una población de 109,000 dentro de un radio de 3 millas con un ingreso familiar medio de $72,000. La propiedad se beneficia del proyectado crecimiento poblacional del 1.3% de Phoenix en los próximos cinco años y del entorno fiscal favorable de Arizona. Esta adquisición está alineada con la estrategia de CNS de invertir en centros comerciales de alta calidad y orientados a necesidades básicas, en medio de tasas récord de ocupación de centros comerciales al aire libre del 95.7%.
Cohen & Steers Income Opportunities REIT (NYSE:CNS)는 피닉스의 Deer Valley 하위 시장에 위치한 159,000평방피트 규모의 커뮤니티 쇼핑센터인 Deer Valley Towne Center를 인수했습니다. 이 부동산은 94% 임대 완료 상태로, Sterling Organization과의 합작 투자로 인수되었으며, 이는 CNS가 Sterling과 함께한 네 번째 인수이자 포트폴리오 내 여섯 번째 야외 쇼핑센터입니다.
Target-shadow가 앵커로 있는 이 센터는 800세대 아파트와 200병상 병원 근처에 전략적으로 위치해 있으며, 반경 3마일 내에 109,000명의 인구와 중간 가구 소득 $72,000을 대상으로 합니다. 이 부동산은 향후 5년간 피닉스의 예상 1.3% 인구 증가와 애리조나의 우호적인 세금 환경의 혜택을 누립니다. 이번 인수는 CNS가 고품질 필수 소비 중심의 쇼핑센터에 투자하는 전략과 부합하며, 야외 쇼핑센터의 기록적인 95.7% 점유율을 반영합니다.
Cohen & Steers Income Opportunities REIT (NYSE:CNS) a acquis Deer Valley Towne Center, un centre commercial communautaire de 159 000 pieds carrés situé dans le sous-marché Deer Valley de Phoenix. La propriété, qui est louée à 94%, a été acquise par le biais d'une coentreprise avec Sterling Organization, marquant la quatrième acquisition de CNS avec Sterling et le sixième centre commercial en plein air dans son portefeuille.
Le centre ancré par Target-shadow est stratégiquement situé à proximité de 800 unités d'appartements et 200 lits d'hôpital, desservant une population de 109 000 habitants dans un rayon de 3 miles avec un revenu médian des ménages de 72 000 $. La propriété bénéficie de la croissance démographique projetée de 1,3% à Phoenix au cours des cinq prochaines années et de l'environnement fiscal favorable de l'Arizona. Cette acquisition s'inscrit dans la stratégie de CNS d'investir dans des centres commerciaux de haute qualité, axés sur les besoins essentiels, dans un contexte de taux d'occupation record des centres commerciaux en plein air de 95,7%.
Cohen & Steers Income Opportunities REIT (NYSE:CNS) hat das Deer Valley Towne Center erworben, ein 159.000 Quadratfuß großes Einkaufszentrum in der Untermarktregion Deer Valley von Phoenix. Die Immobilie, die zu 94 % vermietet ist, wurde im Rahmen eines Joint Ventures mit der Sterling Organization erworben und stellt die vierte Akquisition von CNS mit Sterling sowie das sechste Freiluft-Einkaufszentrum in ihrem Portfolio dar.
Das vom Target-shadow verankerte Zentrum befindet sich strategisch günstig in der Nähe von 800 Wohneinheiten und 200 Krankenhausbetten und bedient eine Bevölkerung von 109.000 Menschen innerhalb eines 3-Meilen-Radius mit einem mittleren Haushaltseinkommen von 72.000 US-Dollar. Die Immobilie profitiert vom prognostizierten 1,3 % Bevölkerungswachstum in Phoenix in den nächsten fünf Jahren sowie vom günstigen Steuerumfeld Arizonas. Diese Akquisition entspricht CNSs Strategie, in hochwertige, bedarfsorientierte Einkaufszentren zu investieren, angesichts der Rekordbelegung von 95,7 % bei Freiluft-Einkaufszentren.
- Strategic location near 800 apartment units and 200 hospital beds, ensuring steady consumer traffic
- High occupancy rate of 94% in a market with record-high open-air shopping center occupancy of 95.7%
- Located in high-growth Phoenix market with projected 1.3% population growth over next 5 years
- Benefits from Arizona's favorable tax environment as the fourth lowest-tax state
- Strong demographic indicators with 109,000 population and $72,000 median household income within 3-mile radius
- Significant exposure to retail sector which faces ongoing e-commerce competition
- Dependence on Target as shadow anchor could pose concentration risk
Insights
CNSREIT's acquisition of Deer Valley Towne Center strengthens its portfolio with high-occupancy retail in a growing Phoenix submarket.
Cohen & Steers Income Opportunities REIT has made a strategic acquisition in the Phoenix market, adding the 159,000 square foot Deer Valley Towne Center to its growing portfolio of open-air shopping centers. This marks their fourth joint venture with Sterling Organization and their sixth open-air shopping center acquisition overall, highlighting their continued focus on this retail format.
The property offers several compelling attributes that align with current retail real estate trends. At
The demographics support long-term value, with 109,000 people within a 3-mile radius earning a median household income of
This acquisition reflects CNSREIT's strategic focus on necessity-driven retail in high-growth markets. The current 16-year high in open-air shopping center occupancy indicates strong market fundamentals supporting this asset class, with limited new construction creating favorable supply-demand dynamics. For income-focused investors, these centers typically offer more stable cash flows than enclosed malls, with tenants providing essential goods and services that have proven more resilient to e-commerce competition.
Deer Valley Towne Center is a 159,000 square foot open air shopping center. Located 17 miles north of
The property benefits from the high-growth
James S. Corl, Chief Executive Officer of CNSREIT and Head of the Private Real Estate Group at Cohen & Steers, said:
"CNSREIT is seeking out dynamic, valuable locations to add to our portfolio. Deer Valley Towne Center is a Target-anchored community center desirably located and highly occupied in the high-growth
CNSREIT is acquiring high quality properties that generate attractive income potential alongside best-in-class operators and has an initial focus on well-anchored, necessity-driven shopping centers. Open-air shopping centers are at their highest occupancy level of the past 16 years at
About CNSREIT. Cohen & Steers Income Opportunities REIT, Inc. is a perpetual-life, non-listed REIT formed to invest primarily in high quality, income-focused, stabilized properties within
About Cohen & Steers. Cohen & Steers is a leading global investment manager specializing in real assets and alternative income, including listed and private real estate, preferred securities, infrastructure, resource equities, commodities, as well as multi-strategy solutions. Founded in 1986, the firm is headquartered in
About Sterling Organization. Sterling Organization is a vertically integrated private equity real estate firm whose national platform is focused on investing in retail and distribution real estate assets across the risk spectrum in major markets within
Forward-Looking Statements
This press release contains forward looking statements within the meaning of the federal securities laws. These forward-looking statements can be identified by the use of forward-looking terminology such as "may," "will," "expect," "intend," "anticipate," "estimate," "believe," "continue," "identified" or other similar words or the negatives thereof. These may include CNSREIT's financial projections and estimates and their underlying assumptions, statements about plans, objectives and expectations with respect to future operations, statements with respect to acquisitions, statements regarding future performance and statements regarding identified but not yet closed acquisitions. Such forward-looking statements are inherently uncertain and there are or may be important factors that could cause actual outcomes or results to differ materially from those indicated in such statements. CNSREIT believes these factors also include but are not limited to those described under the section entitled "Risk Factors" in the prospectus, as amended and supplemented from time to time, filed with the Securities and Exchange Commission (the "SEC"), which is accessible on the SEC's website at www.sec.gov. These factors should not be construed as exhaustive and should be read in conjunction with the other cautionary statements that are included in this document. Except as otherwise required by federal securities laws, CNSREIT undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future developments or otherwise.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities.
Website: https://www.cnsreit.com/
1 Source: CoStar
2 Source: CoStar
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SOURCE Cohen & Steers, Inc.
FAQ
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