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SANTA BARBARA, CA-Retail investment and management specialist Investec has raised $130 million to acquire grocery- and drug-anchored shopping centers to expand its two-million-square-foot portfolio. Ken Slaught, Investec’s founder and president, says that the Santa Barbara-based company will target centers located in the coastal region of California and ‘will continue its focus on best-in-class neighborhood shopping centers, anchored by dominant grocers and pharmacies.”

Slaught is a strong believer in California retail. “We have been investing exclusively in California retail since 1988, so we are not surprised by the recent ‘flight to quality’ into these very markets on which many of our competitors are now focusing,” he notes. He explains the focus on coastal markets: “The coastal markets of California are home to some of the most desirable real estate demographics in the country with high barriers to entry. From San Diego to Northern California, our neighborhood shopping centers provide our investors with extremely strong, risk adjusted returns in all economic cycles.”

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