Marquee Capital & Belay Investment Group’s Joint Venture Partnership Assumes Ownership of Apple Glen Crossing
Located in one of Fort Wayne’s premier retail corridors, Apple Glen Crossing is anchored by Dick’s Sporting Goods, Best Buy, and PetSmart, with a strong lineup of national retailers including Ulta Beauty, Shoe Carnival, Sally Beauty, and Sport Clips. The center, which is approximately 95% occupied, is shadow
anchored by Walmart and Kohl’s.
Marquee Capital originally acquired Apple Glen Crossing in December 2021 and throughout the hold period, successfully completed key renewals with some of the major tenants and backfilled several of the small-shop vacancies.
"This acquisition marks another meaningful step in our programmatic partnership with Belay Investment Group,” said Jay Peirick, President of Marquee Capital. “Apple Glen Crossing is an asset we know well, and we're thrilled to keep it within the Marquee portfolio as we continue building a premier collection of retail centers across the Midwest.”
“Belay is pleased to continue building upon the early momentum of our programmatic partnership with another compelling opportunity to invest in resilient, necessity-based retail with Apple Glen Crossing, which marks our third acquisition with Marquee. We believe the asset is a strong fit for our anchored retail strategy given its attractive going-in cash yield, low fixed-rate assumable debt, and favorable entry basis, while Marquee’s demonstrated leasing success with established national tenants serves to further reinforce our conviction in the business plan,” said Eliza Bailey, Co-Founder, CEO & CIO of Belay Investment Group.
The partnership’s acquisitions to date include Shoppes on Maine in Rochester, MN and Nagawaukee Center in Delafield, WI.
About Marquee Capital
Founded in 2008, Marquee Capital is a fully integrated real estate investment and asset management platform which leverages its in-house leasing, accounting, property management, and construction management teams to maximize value at the property level. Marquee is committed to excellence and strategic growth, using its team’s expertise in real estate investment and operations to create value for investors while contributing to the communities they serve. The firm currently manages over 2.9 million square feet of retail centers across the Midwest, maintaining a top-tier collection of national and regional tenants with a portfolio-wide occupancy rate of over 90%. For more information visit www.marqueecapital.com.
About Belay Investment Group
Belay Investment Group, LLC is an institutional real estate investment management firm that is at the forefront of providing scalable access to small-scale
real estate. The Firm does this through programmatic partnerships with locally entrenched and specialized operators with exclusive deal flow and “on-the-ground” market insights throughout the US. Belay pursues investment opportunities across the risk spectrum, property types, and geographies, including both debt and equity, offering its clients unique access to these alpha generating real estate opportunities. Visit www.belayinvestmentgroup.com for more information
Dan Sisel
Marquee Capital
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