MERCHANTS RETAIL PARTNERS CLOSES LARGE ACQUISITION
BIRMINGHAM, AL – April 23, 2018 – Merchants Retail Partners (MRP), a Birmingham, Alabama based real estate investment firm, on behalf of its related investment partner, recently acquired Dothan Pavilion Shopping Center, in Dothan, Alabama. S
Dothan Pavilion is the dominate regional shopping center in the Wiregrass area, spanning over 615,000 SF, with a current occupancy of 90%, and pulling from a very large trade area. The Center includes nine (9) anchor tenants, represented by best in class retailers such as Ross Dress for Less, Michaels Arts & Crafts, and Ulta Cosmetics. MRP will add additional restaurant, health & fitness, and entertainment uses to maximize the attractiveness of the merchandise mix.
“Dothan Pavilion presented an opportunistically-priced investment for our firm. We were able to close with an attractive basis in the investment. The center has a near term durable income stream that mitigated a great deal of our investment risk, while preserving the upside potential,” said Bill Leitner, Managing Principal at Merchants Retail Partners LLC.
About Merchants Retail Partners
Merchants Retail Partners (MRP) is a full-service development and acquisition investment platform owned by management and Protective Life Insurance Corporation, a national insurance provider that has a $70.5 billion balance sheet. MRP’s vertically integrated platform develops green-field projects and acquires underperforming assets with near-term growth potential. The MRP management team has more than 100 years of collective retail experience and has acquired and/or developed over 20 million square feet of retail assets worth approximately $4 billion in the Southeast and Mid-Atlantic states.