Boca Raton, FL, Nov 14, 2016: QuickLiquidity today announced that it has purchased a partnership interest in a $25 million neighborhood shopping center located in the Pittsburgh, PA metropolitan area. The partnership owns a 275,000-square-foot neighborhood shopping center anchored by the supermarket chain Giant Eagle. The property is over 95 percent leased with additional tenants such as Dollar General, PNC Bank, Chick-Fil-A, Starbucks, MedExpress, Aaron’s, and Mattress Firm.
“The attraction to this property came from its prime location and the historical occupancy of the grocery anchor for over 25 years. This property has a track record of stability and steady income, coupled with continued growth in the Pittsburgh, PA metropolitan area real estate market.” said A. Yoni Miller, Principal of QuickLiquidity.
The seller of the partnership interest received an offer from QuickLiquidity to purchase their interest only one day after the seller had submitted the necessary information to underwrite the property, and the partnership. Once the offer was signed by both parties, it took only two weeks for the transfer of interest and sale to be finalized. The transfer was in full compliance with the partnership agreement and the general partner’s requests.
By bringing in QuickLiquidity as a new limited partner, the seller was able receive an exit strategy from their illiquid and non-controlling real estate interest. In addition, the general partner received a passive investor with a long-term investment horizon.
QuickLiquidity explains that some of the reasons an investor might want to sell their partnership interest is either a personal cash-flow pinch, a diversion of interests between the investors, or to simplify the investors taxes and estate planning.
