Tarrytown, NY-based DLC Management, a private retail real estate owner, has just grown its portfolio by 1.57 million square feet with a 16-shopping center portfolio deal. Edens & Avant sold the portfolio to DLC for an undisclosed amount in this owner-to-owner transaction, facilitated with no outside brokerage representation.
An East Coast private shopping center owner, Edens & Avant held a portfolio of more than 140 retail centers in 16 states prior to this announcement.
Including this transaction, DLC has completed 31 acquisitions in 2007, representing a 27% growth in its portfolio over 2006. The company now boasts a portfolio of 94 shopping centers totaling more than 16.5 million square feet in 25 states.
Story at CoStar.