Intercontinental Announces the Acquisition of Golden Town Center on Behalf of U.S. Real Estate Investment Fund, LLC
Intercontinental Real Estate Corporation (“Intercontinental”), a national real estate investment, development and management firm headquartered in Boston, MA, announced the acquisition of Golden Town Center in Golden, Colorado. The investment marks the fourth acquisition on behalf of Intercontinental’s U.S. Real Estate Investment Fund, LLC (US REIF). The acquisition process was led by Kevin Darling, Director, Acquisitions at Intercontinental.
Golden Town Center is a 117,800 square foot community shopping center located on South Golden Road in the historic town of Golden, Colorado. Situated on 14 acres of land, the shopping center is anchored by King Soopers, Denver’s dominant grocer which leases approximately 70,000 square feet at the center. Golden Town Center contains an attractive mix of national and regional tenants including: Radio Shack, Blockbuster, Washington Mutual, H&R Block, and Papa Murphy’s. The center’s location offers superior visibility, access, and signage opportunities with approximately 1,000 feet of street frontage. Golden is located in the west quadrant of the Denver Metropolitan Area, easily accessible to Denver via several major roadways.
“The acquisition of Golden Town Center offers Intercontinental the opportunity to acquire a high quality asset with a diversified and established tenant base in a preeminent location. Golden’s strong demographics further enhance the appeal of the asset and will certainly complement US REIF’s current property portfolio,” commented Thomas Taranto, Director, Head of Asset and Portfolio Management at Intercontinental.
US REIF is seeking investments in yield-driven real estate, diversified by geography and product type. The fund’s primary focus is on assets which provide stable and predictable cash flow with an opportunity of capital appreciation.
Intercontinental Real Estate Corporation is an SEC registered investment adviser and real estate operating company with expertise in real estate investment, development, construction management, and asset management. The company has developed, managed and owned over $4 billion in real property assets across all property types including commercial, mixed use, hotel, recreational and residential projects. Presently, Intercontinental manages a portfolio in excess of $1.7 billion for its clients.