How KPR Expanded Its Portfolio After the Great Recession – Where We Buy #256

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Dan Katz founded Katz Properties when he was 24 years old, and today, it operates under the name KPR. The company primarily owns grocery anchored shopping centers in high density Northeast, Mid-Atlantic, and Southeast markets. Its initial significant growth occurred after the great recession. Dan explains how he managed to seize opportunities during those challenging economic times.

DRA Advisors and KPR Centers Partnership Acquires Portfolio of 35 Grocery-anchored Centers from Cedar Realty Trust for $879M

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A partnership between a real estate fund managed by New York City-based DRA Advisors, LLC and KPR Centers has completed the acquisition of a portfolio of 35 grocery-anchored shopping centers, comprising more than 4.9 million square feet of space, from Cedar Realty Trust for $879 million. The centers are situated in nine states throughout the Mid-Atlantic and Northeast regions of the country. The partnership disposed of 16 of those shopping centers, totaling more than 1.5 million square feet of space, to three separate entities simultaneously at closing. The remaining 19 shopping centers, comprising more than 3.4 million square feet of space and cumulatively 93% leased, will be owned and managed by the two real estate companies focused on value-add investments. Chris Angelone of JLL represented the seller in this transaction.

Finmarc Management And KPR Centers Acquire 760,000 SF Wegmans-Anchored Center In Philadelphia Area For $161.75M

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Finmarc Management, Inc., a commercial real estate investment and management firm headquartered in Bethesda, Maryland, together with KPR Centers, a real estate investment and operating firm based in New York City, have completed the acquisition of Providence Town Center, a 760,000 square foot retail center located northwest of Philadelphia in Collegeville, Pennsylvania. The purchase price was $161.75 million. Located at 100 Town Center, the asset was 92% leased at the time of the sale and features 11 anchor tenants led by Wegmans Food Markets, and approximately 70 tenants in total.

PCCP/KPR Venture Acquires Schaumburg Retail

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A joint venture between PCCP, LLC and KPR Centers has acquired Schaumburg Corners, a 100% leased 160,301-square-foot shopping center located at 16-66 E Golf Rd. in the northwestern Chicago suburb of Schaumburg, IL. The seller was Kensington Development Partners. Deal terms weren’t disclosed.

KPR Pays $47M for Cold Storage Industrial; Perishable Mgt Brokers 310,000-SF NH Deal

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Active across New England for almost a decade, Gotham-based KPR Centers is moving beyond the grocery anchored shopping plazas focused on while assembling a seven-million-sf platform extending from Maine to Florida, yet Managing Partner Daniel Katz tells Real Reporter its just completed deal spending $47 million on 310,000 sf of refrigerated industrial space here in southern New Hampshire does connect to the firm’s real estate roots. The off-market agreement arranged Read More

Shopping Centers Today profiles Daniel Katz as 4 Under 40

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Meet four rising stars who are making standout contributions to retail real estate

By Ben Johnson

The bar for being named an ICSC NextGen 4 Under 40 designee was higher than ever this year, because this annual award received the greatest number of nominations ever in its five-year history. “We are excited to continue the legacy of 4 Under 40 with very bright and talented men and women who are proven leaders from a variety of backgrounds, including leasing, asset management, brokerage and consulting,” said Jessica Goss, vice president of Americas real estate at J.P. Morgan & Co. and a member of the national ICSC NextGen Leadership Board, which oversees the subcommittee responsible for the 4 Under 40 program. Read More