Partners Group invests in urban retail center in the US
Press release
Baar-Zug, 26 September 2013
Partners Group, the global private markets manager, announces its investment in Lloyd Center in Portland, Ore., US on behalf of its clients in partnership with Cypress Equities Real Estate Investment Management. Lloyd Center is a 1.5 million square foot urban retail center located near downtown Portland with close proximity to the Convention Center, Rose Garden Arena and Memorial Coliseum.
Lloyd Center features six anchor stores, more than 150 specialty shops, a 900-seat food court, plus an indoor ice skating rink and a movie theater. The center showcases many of today's popular retail brands including anchor stores Nordstrom, Macy's, Sears, Marshalls, Barnes & Noble and Ross Dress for Less as well as numerous specialty shops.
Partners Group considers Lloyd Center an attractive investment for its clients due to its value-added potential. The business plan includes further adapting the tenant mix to local preferences, effectively managing lease rollover over the duration of the hold period and initiating a property-wide capital plan aimed at improving the property's competitive position in the market. The implementation of these efforts has already begun and, for instance, ULTA was recently added as a tenant while Forever21 is currently expanding its store at Lloyd Center.
Eliza Bailey, a senior investment manager in the private real estate team at Partners Group, comments, “We are excited to invest in Lloyd Center. The property fits well with our relative value assessment of targeting assets located in primary locations within tier 2 cities and we believe that the partnership is well-positioned to manage the asset and create value for our investors.”
About Partners Group
Partners Group is a global private markets investment management firm with over EUR 30 billion in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Munich, Dubai, Singapore, Beijing, Seoul, Tokyo and Sydney. The firm employs over 650 people, is listed on the SIX Swiss Exchange (symbol: PGHN) with a market capitalization of CHF 6 billion and a major ownership by its partners and employees.
Investor relations contact
Philip Sauer
Phone: +41 41 784 66 60
E-mail: [email protected]
Media relations contact
Alexander von Wolffradt
Phone: +41 41 784 66 45
E-mail: [email protected]
Press release
Baar-Zug, 26 September 2013
Partners Group, the global private markets manager, announces its investment in Lloyd Center in Portland, Ore., US on behalf of its clients in partnership with Cypress Equities Real Estate Investment Management. Lloyd Center is a 1.5 million square foot urban retail center located near downtown Portland with close proximity to the Convention Center, Rose Garden Arena and Memorial Coliseum.
Lloyd Center features six anchor stores, more than 150 specialty shops, a 900-seat food court, plus an indoor ice skating rink and a movie theater. The center showcases many of today's popular retail brands including anchor stores Nordstrom, Macy's, Sears, Marshalls, Barnes & Noble and Ross Dress for Less as well as numerous specialty shops.
Partners Group considers Lloyd Center an attractive investment for its clients due to its value-added potential. The business plan includes further adapting the tenant mix to local preferences, effectively managing lease rollover over the duration of the hold period and initiating a property-wide capital plan aimed at improving the property's competitive position in the market. The implementation of these efforts has already begun and, for instance, ULTA was recently added as a tenant while Forever21 is currently expanding its store at Lloyd Center.
Eliza Bailey, a senior investment manager in the private real estate team at Partners Group, comments, “We are excited to invest in Lloyd Center. The property fits well with our relative value assessment of targeting assets located in primary locations within tier 2 cities and we believe that the partnership is well-positioned to manage the asset and create value for our investors.”
About Partners Group
Partners Group is a global private markets investment management firm with over EUR 30 billion in investment programs under management in private equity, private real estate, private infrastructure and private debt. The firm manages a broad range of customized portfolios for an international clientele of institutional investors. Partners Group is headquartered in Zug, Switzerland and has offices in San Francisco, New York, São Paulo, London, Guernsey, Paris, Luxembourg, Munich, Dubai, Singapore, Beijing, Seoul, Tokyo and Sydney. The firm employs over 650 people, is listed on the SIX Swiss Exchange (symbol: PGHN) with a market capitalization of CHF 6 billion and a major ownership by its partners and employees.
Investor relations contact
Philip Sauer
Phone: +41 41 784 66 60
E-mail: [email protected]
Media relations contact
Alexander von Wolffradt
Phone: +41 41 784 66 45
E-mail: [email protected]