Sterling Organization Sells Windsor Square in Charlotte for $70.1 Million

Deal News | Nov 26, 2024 | Sterling Organization LLC/The

Sterling Organization Sells Windsor Square in Charlotte for $70.1 Million

Sterling Organization, a private equity real estate firm with a focus on retail properties, has successfully completed the sale of Windsor Square, a regional shopping center situated in Matthews, North Carolina, part of the Charlotte metropolitan statistical area (MSA). The property, acquired for $38.4 million, was sold for $70.1 million and features seven retail buildings with notable tenants like Sam's Club and Kohl's. Windsor Square boasts a high occupancy rate of 97% at the time of sale, indicating its strong market presence. Supporting the transaction was Berkeley Capital, represented by Rad von Werssowetz, with the property sold to Hackney Real Estate Partners. This sale highlights Sterling Organization's strategic investment capabilities within the retail real estate sector, demonstrating effective asset acquisition and value creation.

Sectors

  • Real Estate
  • Retail
  • Private Equity

Geography

  • United States – The transaction took place in the United States, specifically involving Windsor Square in North Carolina.
  • North Carolina – The property, Windsor Square, is located in Matthews, North Carolina, part of the Charlotte MSA.

Industry

  • Real Estate – The article discusses a transaction involving a commercial retail property, indicating a focus on real estate investment.
  • Retail – The property in question is a retail shopping center, emphasizing its role in the retail sector.
  • Private Equity – The transaction involved Sterling Organization, a private equity firm specializing in real estate investments.

Financials

  • $70.1 million – Sale price of Windsor Square.
  • $38.4 million – Original acquisition cost of Windsor Square by Sterling Organization.

Participants

NameRoleTypeDescription
Sterling Organization LLCSellerCompanyA vertically integrated private equity real estate investment firm focused on retail real estate assets.
Hackney Real Estate PartnersPurchaserCompanyReal estate investment group acquiring the Windsor Square shopping center.
Berkeley CapitalFacilitatorCompanyAssisted in the transaction for the sale of Windsor Square; represented by Rad von Werssowetz.
Rad von WerssowetzFacilitatorPersonTeam leader at Berkeley Capital who assisted in the transaction.
Jordan FriedPrincipalPersonPrincipal of Sterling Organization, involved in the transaction.