News
ATLAS SHRUGS IN SEARCH FOR DEALS
January 18, 2011
| You may recall Ty Underwood left NAI/Brannen Goddard in September. What ever happened to that guy? |
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| Like all of us, Ty's been shopping. Except, he's shopping for shopping centers. Yesterday, we took a long lunch break at the Tavern at Phipps with Ty, who's now formed Atlas Retail Capital withSteve Gregory, former president of developer Hopkins Commercial in Dallas. So far, Atlas is assisting an unnamed pension fund invest $250M in retail properties. To date, the group has purchased an east coast grocery-anchored shopping center and two Target power centers in Texas, and have several other deals in their pipeline. Ty says Atlas is seeking to buy core retail assets andvalue-add properties where fundamentals are strong. There just hasn't been a lot to look at on the market. But Ty says Atlas is seeing traction with off-market transactions like note purchases. ?There's a ton of deals out there that are in stall mode,? he says. |
