AmCap and New Institutional Partner Recapitalize Grocery-Anchored Retail Portfolio

AmCap, Incorporated (“AmCap”) and its new institutional partner recently recapitalized a portfolio of three grocery-anchored shopping centers originally acquired between 2005 and 2006 by AmCap. With this transaction, one of AmCap’s investment programs with a state pension fund partner will be fully realized.

A joint venture was formed by and between AmCap and its new institutional partner to consummate the deal, with AmCap continuing to provide leasing and property management services and assuming overall asset management responsibilities.

The roughly 864,000 square-foot portfolio is comprised of Copaco Center in Bloomfield, CT (Stop & Shop, Burlington Coat, and Lowe’s anchored), Cowesett Corners in Warwick, RI (Stop & Shop and Petco anchored), and Northpoint Center in Arlington Heights, IL (Jewel-Os