PARK CITY, Utah–(BUSINESS WIRE)–#ACQUISITIONS–PREP Property Group Inc. (“PREP” or the “Company”), a vertically integrated real estate company focused on creating value in retail real estate, is pleased to announce the recent acquisition of Hillside Village located in Cedar Hill, Texas. The center is the latest property to be added to the PREP Strategic Investments portfolio.
The 611,232 square-foot regional shopping center is located 16 miles southwest of downtown Dallas along U.S. Route 67 at Cedar Hill’s retail epicenter. The lifestyle center features Dick’s Sporting Goods, Dillard’s, Barnes & Noble, Old Navy, ULTA, H&M, Champ’s, Victoria’s Secret, Express and other national and regional tenants.
“Located in the Dallas/Fort Worth Texas MSA with 48+ million annual visitors, we are excited to add Hillside Village to our growing Strategic Investments portfolio,” said Roy Williams, PREP Chief Investment Officer. “In addition to the shopping and eateries that are available, Hillside Village offers an amenities rich experience featuring an interactive fountain, children’s play area, village green, electronic vehicle charging station and more.”
With a legacy of transforming retail properties, PREP has the expertise and experience to optimize retail property value. The Company identifies prime locations with development, leasing or redevelopment opportunities through a focused investment strategy. The Strategic Investment portfolio currently has five other projects that include Hanover Crossing in Hanover, Massachusetts, Posner Commons in Davenport, Florida, Shadow Lake Towne Center in Omaha, Nebraska, Kenwood Collection in Cincinnati, Ohio and The Shoppes at Parma in Parma, Ohio.
In addition to the Strategic Investments portfolio, PREP has a Net Lease Investments division which acquires well-located, single tenant net leased retail properties throughout the United States. The Net Lease team aims to acquire a diverse mix of tenant credit, uses, and geographies. Our focus is to identify sites with strong real estate fundamentals and improve the leases, terms or creditworthiness creating value in the assets and the portfolio.
To learn more about PREP Property Group, please visit our website at www.preppg.com.
About PREP Property Group (PREP)
PREP Property Group is a vertically-integrated real estate company founded by Michael C. Phillips, co-founder of Phillips Edison & Company, and built on the foundations of Phillips Edison’s strategic and net lease real estate divisions. PREP is focused on transforming retail real estate by repositioning lifestyle centers, power centers and enclosed malls that are undermanaged, capital starved, poorly merchandised and / or distressed. PREP also acquires and manages well-located, triple-net retail properties from non-institutional sellers and creates value through lease restructure or tenant upgrade.