Exclusive: Broad Retail Portfolio Commands $170M+

AmCap Properties has acquired an eight-property, grocery-anchored retail portfolio spanning seven states, according to Yardi Matrix. The seller is Loja Group.

Yardi Matrix identified that seven assets from the collection sold for a total of $170.8 million, while the eighth building changed hands for an undisclosed sale price. Commercial Property Executive reached out to both AmCap Properties and Loja Group for additional details but received no immediate replies. 

New York Life Insurance Co. issued a $87.5 million portfolio loan note with a maturity date set for 2031.

The properties are located in Oregon, Iowa, Colorado, California, Nevada, Arizona and Kansas, and total 770,940 leasable square feet combined. Most anchor tenants are grocery chains, such as WinCo Foods, Whole Foods, Sprouts, La Plaza Market, Trader Joe’s and Natural Grocers. Other tenants include Snap Fitness, AT&T, UPS, Papa John’s, Pet Food Express, T-Mobile, Skechers and a mix of beauty centers, veterinary practices, family medicine, fast food and clothing stores.

The properties are:

• Trails End Marketplace, including 105,069 leasable square feet at 19721 Highway 213 in Oregon City, Ore.
• Water Tower Place, including 274,815 leasable square feet at 4100 University Ave. in West Des Moines, Iowa
• Village West, totaling 98,919 leasable square feet at 8555 W. Belleview Ave., in Littleton, Colo.
• Tracy Corners, including 86,101 leasable square feet at 3225 S. Tracy Blvd., in Tracy, Calif.
• A property featuring 24,800 leasable square feet at 1372 S. California Blvd., in Walnut Creek, Calif.,
• Reno Public Market, totaling 137,950 leasable square feet at 299 E. Plumb Lane in Reno, Nev.
• Glendale Shopping Center, including 28,286 leasable square feet at 7720 W. Bell Road in Glendale, Ariz.
• A Natural Grocers shopping center totaling 15,000 leasable square feet at 10520 W. 13th St. N., in Wichita, Kan.

All shopping centers came online between 1961 and 1997. The portfolio serves suburban municipalities and high-density residential modules.

AmCap Properties is a private equity real estate firm targeting grocery-anchored and daily-needs retail properties in high-growth markets. The company owns and operates 64 properties spread across 24 states and totaling 5 million square feet.

U.S. retail continues to attract investors

The retail investment volume reached more than $15 billion in sales nationwide in the first quarter of this year, according to a recent JLL report. This figure was the highest first-quarter volume since early 2023. Institutional investors represented nearly 24 percent of multi-tenant retail sales over the past 12 months, marking their highest reported investment share since 2017.

The sector remains well balanced. Recent retail deals include Bain Capital and 11North Partners’ purchase of five open-air properties in California, Florida, Texas and Virginia. The 757,000-square-foot collection is the joint venture’s first investment. In late 2025, the two companies closed on a capital raise of $1.6 billion, with funds targeting open-air properties in the U.S. and Canada.

Another notable transaction is CBRE Investment Management’s acquisition of a seven-property retail portfolio totaling 1.1 million square feet across five states. The company purchased the assets through a joint venture with MCB Real Estate.