MERCHANTS RETAIL PARTNERS CLOSES $50.0M REFINACE OF ALABASTER SHOPPING CENTER

ULTA Beauty and Verizon Wireless Joining Alabaster Line-Up

 

Alabaster, AL – Merchants Retail Partners (MRP), a Birmingham, Alabama based real estate investment firm, has closed a $50M refinance on behalf of our related investment partner. The Target-anchored Alabaster Promenade is located along I-65 in Alabaster, AL and opened in 2007. The retail center underwent an expansion in 2014 to accommodate Dick’s Sporting Goods.

 

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MRP also added an additional junior anchor box of 10,000 square feet and executed a lease with ULTA Beauty. Verizon Communications has leased the last remaining outparcel with a total of 4,400 square feet. The addition of both the ULTA Beauty and the Verizon store bring the total square footage of the center to 450,000 square-feet. The center is 100% occupied and both stores are to open in 2015.

 

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About Merchants Retail Partners

Merchants Retail Partners (MRP) is a vertically integrated investment firm specializing in commercial real estate development and acquisitions throughout the Southeast. The company is owner/operator of retail/mixed-use real estate and provides best-in-class underwriting/market analysis, acquisition, development, repositioning, construction management, leasing, property management, financial reporting, as well as complex debt and equity restructuring capabilities. MRP combines the size, strength and institutional closing power of its sponsor company, with the responsiveness of a private firm. With more than 145 years of collective experience, MRP’s leadership team has developed and managed more than $2B of retail and mixed-use property across the Southeast. MRP is headquartered in Birmingham, AL in the Protective Life Center.

 

About ULTA Beauty

Ulta Beauty is the largest beauty retailer that provides one-stop shopping for prestige, mass and salon products, and salon services in the United States. Ulta Beauty provides affordable indulgences to its customers by combining unmatched product breadth, value and convenience with the distinctive environment and experience of a specialty retailer. Ulta Beauty offers a unique combination of over 20,000 prestige and mass beauty products across the categories of cosmetics, fragrance, haircare, skincare, bath and body products and salon styling tools, as well as salon haircare products. Ulta Beauty also offers a full-service salon in all of its stores. As of November 1, 2014, Ulta operates 765 retail stores across 47 states and also distributes its products through the Company’s website: www.ulta.com.

 

About Verizon Communications

Verizon Communications Inc. (Verizon or the Company) is a holding company that, acting through its subsidiaries, is one of the world's leading providers of communications, information and entertainment products and services to consumers, businesses and governmental agencies. With a presence around the world, we offer voice, data and video services and solutions on our wireless and wireline networks that are designed to meet customers' demand for mobility, reliable network connectivity, security and control. We have two reportable segments, Wireless and Wireline. Our wireless business, operating as Verizon Wireless, provides voice and data services and equipment sales across the United States using one of the most extensive and reliable wireless networks. Our wireline business provides consumer, business and government customers with communications products and enhanced services, including broadband data and video, corporate networking solutions, data center and cloud services, security and managed network services and local and long distance voice services, and also owns and operates one of the most expansive end-to-end global Internet Protocol (IP) networks. We have a highly skilled, diverse and dedicated workforce of approximately 176,200 employees as of March 31, 2015.