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For Immediate Release
Media Inquires:
Sharon Finley
Public Relations Initiatives
928.717.1880
sharon@pr-initiatives.com
Ratel Closes 3rd Investment For Ratel Value Fund I
San Marcos Texas Value-Oriented Community Retail Center
Tiburon, Calif. – March 6, 2009 - Ratel Investments, a real estate investment firm, today announced it has made a $3.3 million equity investment in the San Mar Plaza shopping center located in San Marcos, TX. Ratel invested in San Mar Plaza in partnership with Dunhill Partners, a Dallas, TX-based retail investment, property management and leasing firm. San Mar Plaza is the third investment made by the Ratel on behalf of its Ratel Value Fund I.
San Mar Plaza is an 185,092 square foot value-oriented community shopping center located less than one mile from Texas State University and midway between Austin and San Antonio. Anchored by Hobby Lobby, Hastings Entertainment and the Tractor Supply Company, the center is tenanted primarily by value-oriented retailers who offer consumers low-cost, high value products and services, including Supercuts (discount hair), Payless Shoe Source (discount footwear), Southwest Vision (discount vision and glasses), AutoZone (bulk auto-parts), as well as three restaurants that all provide sub $10 meals. San Mar Plaza is strategically located at the intersection of Highway 80 and the Interstate 35 access road and enjoys visibility to over 118,000 vehicles daily. The property has 82% credit tenants, features below market, in-place debt and is currently 100% leased.
“We believe that value-oriented community focused retail centers like San Mar are well positioned to ride out the current economic downturn,” said Joe Gillach, Principal at Ratel Investments. “Even in tough times, consumers, out of necessity, must still buy essential goods and services and, historically, they do so by trading down to the kind of discount retailers that occupy San Mar Plaza. We like the fact that the center is fully leased and offers attractive cash yields even in the midst of a national recessionary economy.”
About Ratel Investments (www.ratelinvestments.com)
Ratel Investments, LP is a real estate private investment firm that works with experienced joint venture partners to acquire income producing commercial real estate assets on behalf of high net worth individuals, families and trusts. Ratel provides investors with the benefits of real estate ownership, including tax preferred cash flow, long-term capital appreciation and financial diversification without the burden of direct property management responsibility. Ratel’s real estate portfolio encompasses an equity investment in more than twenty properties with a combined market value of over $300 million.
About Dunhill Partners (www.dunhillpartners.com)
Dunhill Partners is a commercial real estate brokerage and investment firm based in Dallas, Texas. Founded in 1984 by Bill Hutchinson, Dunhill provides third-party property management, project leasing and arranges acquisitions of select commercial properties—primarily shopping centers, office buildings and apartment complexes—for clients as well as for its internal portfolio. The firm has 25 employees and manages 3 million square feet of retail shopping centers in Texas. In the past several years the firm has purchased and sold over $1 billion worth of properties.
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