Acquisition Criteria

Forge Real Estate Partners III, LP seeks to acquire and develop neighborhood and community shopping centers throughout the Southeastern United States. FREP III is targeting stabilized, value-add and new development opportunities that meet the investment criteria below:

  • Located in Alabama, Florida, Georgia, North Carolina, Puerto Rico, South Carolina, Tennessee, Texas or Virginia
  • Primary or secondary markets (minimum population of 25,000 people within a threemile radius)
  • Size ranging from 50,000 – 250,000 square feet
  • Urban infill locations that are difficult to duplicate
  • Acquisition price below replacement cost
  • Opportunities for redevelopment, including vacant anchor boxes
  • Dominant anchors, preferably a grocery or a soft goods discounter, both of whom are first or second in market share
  • A stabilized unleveraged yield on cost greater than 8%
  • Bank notes collateralized by retail properties meeting the above criteria
  • Short sales of retail properties meeting the above criteria

In addition to the above, FREP III also participates in joint ventures where the current owner/developer needs equity to finish a project or recapitalize an existing investment.