SOURCE: Newport Capital Partners

Newport Capital Partners

May 23, 2016 08:00 ET

Newport Capital Partners Acquires Shopping Center in St. Louis, Missouri

CHICAGO, IL--(Marketwired - May 23, 2016) - Newport Capital Partners has acquired Southtown Centre, a five-building shopping center located in the Tower Grove South neighborhood of St. Louis, Missouri, for $15.25 million on behalf of Newport Capital Partners Fund II. Ben Wineman of Mid-America Real Estate Group represented the seller, DDR Corp., in the transaction.

Southtown Centre is an 88,364-square-foot neighborhood shopping center anchored by Walgreens, PetSmart, Office Max, Starbucks, Foot Locker and Athletico. Located at the intersection of Kingshighway and Chippewa Street in South City, St. Louis, the property is just five miles from the downtown central business district, and strategically positioned between Interstates I-55 and I-44.

"Newport is extremely excited about the acquisition of our third asset for Newport Capital Partners Fund II, and our second retail center in the St. Louis area. We look forward to continued expansion in St. Louis over the coming years and are staying quite busy in other major markets throughout the Midwest as well," said Ben Andrews, Director at Newport Capital Partners. "Southtown is in a great location with strong national and local retailers, who do well and service the neighborhood and the community. It fits perfectly into our Fund's strategy."

Newport Capital Partners is a vertically integrated real estate investment firm with approximately $400 million of assets under management. Newport has recently begun raising capital for Newport Capital Partners Fund II, with an investment strategy focused on value-add, income producing, convenience, neighborhood and community retail, and mixed-use properties in major Midwestern metro areas. To learn more about Newport, call Ben Andrews or Derrick McGavic at (312) 724-7031 or visit the company website at www.newportcapitalptrs.com.

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