Prudent Growth Partners, LLC, a Chapel Hill, NC based private equity real estate firm, has completed its $5.5 million acquisition of the Shops of Schillinger shopping center, located at 740-790 S Schillinger Rd., Mobile, AL.
Built in 2003, the property is 90% leased to a strong group of national and local tenants, including Dollar Tree, Crafty Crab, Sally Beauty Supply and Sport Clips.
The property adjoins a top performing Target retail store and is located near many residential and retail properties.
“We think that this is a great purchase for PGP and our investors,” said Tom Hahn, President of Prudent Growth Partners. “We have been expanding throughout the southeast and continue to be very interested in adding more properties in Alabama.”
This acquisition for Prudent Growth follows its recent purchase of the South Shades Crest Shopping center in Hoover, AL in late August.
Prudent Growth Partners, LLC is a private equity real estate investment company based in Chapel Hill, NC. The firm focuses on properties that tend to be overlooked by larger institutions and which provide exceptional returns on invested capital along with the possibility of longer-term capital gains achieved by expert management and future price appreciation.