What we know
Big V Property Group is a retail real estate investment firm based out of Charlotte, North Carolina, with offices in Austin and San Antonio. According to the release, the sale was facilitated in partnership with Principal Asset Management, a global capital management firm.
“Combined with our own 80 years of history, Big V and Principal Asset Management each have a storied legacy of success in serving clients and communities,” Eric Zimmermann, chief acquisitions officer of Big V Property Group, said. “This collaboration underscores our shared focus on creating value and delivering quality experiences for the people and places we serve.”
Fairfield Town Center is located at 28902 Hwy. 290 in Cypress and holds 355,000 square feet of retail, entertainment and other services, the release states. Big V Property Group did not disclose the purchase price of the center.
In their own words
“We’re excited to add this to our growing Texas portfolio, now six centers strong,” Tony D’Ambrosio, vice president of acquisitions and dispositions for Big V Property Group, said. “Fairfield Town Center exemplifies the type of property Big V builds, acquires and redevelops—well-located in growing areas, dominant, with healthy anchors and the most-desired retailers and services. This is a trophy asset, which we are proud to add to our portfolio.”
“Big V’s longstanding presence in the Sunbelt and its comprehensive real estate capabilities were major draws for Principal Asset Management,” Kyle Donnelly, director of acquisitions and dispositions at Principal Asset Management, said. “Their deep retail expertise and vertically integrated platform, spanning innovative leasing, strategic development, construction, legal, marketing, operations, and more, were key factors in our decision.”
