InvenTrust Properties Corp. (“InvenTrust” or the “Company”) (NYSE: IVT) today announced the acquisition of two premier assets in Austin, Texas for $189.3 million. The transaction includes The Shops at Arbor Trails, a 357,000 square foot center anchored by Costco Wholesale and Whole Foods, and Escarpment Village, a 168,000 square foot shopping center anchored by HEB, the region’s top grocer.
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Escarpment Village (Photo: Business Wire)
“These properties are great additions to our portfolio and further strengthen our foothold in the highly sought after Austin market,” said David Heimberger, Chief Investment Officer of InvenTrust. “This transaction validates the Company’s self-funded business plan and will bring meaningful cash flow growth to our platform. Our balance sheet continues to remain well-positioned to fund additional acquisitions in 2022 and beyond.”
Stephen Snodgrass, Vice President of Acquisitions of InvenTrust added, “The Shops at Arbor Trails and Escarpment Village are 99% and 100% leased, respectively, and contain incredible tenant lineups, including leases with three top-tier grocers. Both centers have components of sustainability, including but not limited to, solar and water reclamation, which continue to be important initiatives in our portfolio strategy. Our significant presence in Austin and transaction track record allowed us to unlock this off-market opportunity and demonstrates the ability of our team to identify and execute in a market with high barriers to entry.”
Additional property and leasing information is available on the InvenTrust website.
About InvenTrust Properties Corp.
InvenTrust Properties Corp. (“we,” the “Company,” “our,” “us,” "IVT" or "InvenTrust") is a premier Sun Belt, multi-tenant essential retail REIT that owns, leases, redevelops, acquires and manages grocery-anchored neighborhood and community centers as well as high-quality power centers that often have a grocery component. A trusted, local operator bringing real estate expertise to its tenant relationships, IVT has built a strong reputation with market participants across its portfolio. IVT is also committed to leadership in environmental, social and governance (ESG) practices and has been a Global Real Estate Sustainability Benchmark (“GRESB”) member since 2018. As of September 30, 2021, the Company is an owner and manager of 63 retail properties, representing 10.6 million square feet of retail space. For more information, please visit www.inventrustproperties.com.
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