ALPHARETTA, GEORGIA, UNITED STATES, July 2, 2024 /EINPresswire.com/ — Octave Holdings and Investments, LLC is pleased to announce that Octave Realty Fund IX, LLC, completed the acquisition of Belgate Shopping Center in Charlotte, North Carolina. Belgate Shopping Center, a 269,253 square foot power center, is located at the intersection of N. Tryon St. and University City Blvd. The center is fully occupied, boasting a robust mix of strong national tenants including Hobby Lobby, TJ Maxx, Burlington, Marshalls, PetSmart, Old Navy, Shoe Carnival, Ulta, among others. The center is located approximately a mile away from UNC Charlotte and other economic drivers including the Charlotte Motor Speedway and Vanguard’s new University City Office Campus acquisition adding 2,400 jobs. In addition, the center is shadow-anchored by Top Golf, Walmart Supercenter, as well as the only IKEA in the state of North Carolina.
“We are extremely excited to enter the Charlotte market with such a great asset anchored by strong performing national retailers, said Scott Henard, EVP and Director of Acquisitions for Octave. “The center benefits from being located in close proximity to UNC Charlotte and also has additional value to be extracted from developing the vacant parcels.”
Sridhar Marupudi, Octave’s Co-Founder and CEO, commented “We are thrilled to add another solid power center to our portfolio with the opportunity to provide increased value to our investors!”
“This acquisition continues our track record of executing on transactions and we continue to look for opportunities to acquire high-quality grocery-anchored or shadow-anchored centers meeting our disciplined investment criteria,” said Zia Rahman Octave’s Co-Founder and Chief Strategy Officer.
Belgate Shoping Center will be professionally managed by Octave’s in-house property management company, Pinnacle Leasing and Management.
About Octave
Octave Holdings and Investments, LLC is a privately held real estate investment company that owns, operates and manages, a portfolio of over 45 commercial real estate assets in fourteen states valued at approximately $700 million.
Octave’s mission is to create an extraordinary investment experience leveraging proven real estate strategies, an intuitive and innovative investor portal, alongside their unparalleled customer experience.
Octave and its affiliates aim to provide stakeholders with above- average returns through a disciplined investment strategy, the development and maintenance of strategic partnerships in the commercial real estate industry, and by aligning interests with investors.
Parth Munshi
Octave Holdings and Investments
pmunshi@octavehi.com
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