Thank you for sharing!

Your article was successfully shared with the contacts you provided.

FARMINGTON HILLS, MI—In the past few years, retail has not, in general, attracted as much interest from investors as other sectors like multifamily and industrial. However, investors have maintained an interest in well-leased retail properties in affluent neighborhoods, even outside core cities. The Ramco-Gershenson Properties Trust, for example, just acquired Deerfield Towne Center in Mason, Ohio, a high-income Cincinnati suburb, for $97 million. The company financed the acquisition with $52 million in cash, $25 million of new unsecured term debt due in 2020, and $20 million in borrowings under its revolving line of credit.

One of only two Whole Foods serving the Cincinnati area anchors the 461,000-square-foot shopping center. Other retailers include Bed, Bath & Beyond, Dick’s Sporting Goods, buybuy BABY, Ashley Furniture, and a 16-screen Regal Cinema. Company officials believe the center’s anchor tenants, upscale tenant mix, entertainment options, and restaurant choices make it the dominant shopping destination in the area.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. NET LEASE Spring 2021Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information

GlobeSt. NET LEASE Awards 2021Event

These awards honor the industry's most influential and knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.