Whitehouse, OH – December 14, 2016–Devonshire Operating Partnership, LP announces that it has entered into a definitive agreement pursuant to which affiliates controlled by Davidson Kempner Capital Management LP will acquire all of the common equity interests of Devonshire Operating Partnership, LP. Davidson Kempner Capital Management LP is a global institutional investment management firm. The parties currently expect the transaction to close during the first quarter of 2017.
Devonshire Operating Partnership, LP, through its subsidiaries, owns 32 community and neighborhood shopping centers with approximately 4 million square feet of gross leasable area and is controlled by Devonshire REIT, Inc.
WHITEHOUSE, OH, September 14, 2016 — Devonshire REIT, Inc., a private real estate investment trust, announced today that it has been recognized as one of the fastest growing private companies in the United States by making the 2016 Inc. 5000 List at #815 with 3 year accumulated growth of 489%. Devonshire was also ranked #1 in Toledo, #2 in Real Estate and #21 in Ohio.
“This is another confirmation of the power of our process, the strength of our principles and the quality of our people. We formed this company in the depth of the Great Recession and navigating that crucible successfully has kept us lean, efficient, and always working to squeeze the greatest value out of every investment dollar entrusted to us by our shareholders”, said Chris Campbell, Chairman of the Board of Devonshire REIT, “We are honored by this recognition and look forward to continued growth and success.”
The 2016 Inc. 5000, unveiled online at Inc.com is the most competitive crop in the list’s history. The average company on the list achieved a three-year growth of 433%. The Inc. 5000’s aggregate revenue is $200 billion, and the companies on the list collectively generated 640,000 jobs over the past three years, or about 8% of all jobs created in the entire economy during that period. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/inc5000. Devonshire REIT’s unique listing is at: http://www.inc.com/profile/devonshire-reit?cid=full500016-list-815.
About Devonshire REIT, Inc.: Founded in 2009, Devonshire REIT is a self-advised and internally managed private real estate investment trust purpose-built for fiduciaries. From inception, the company grew from $6M in assets under management to over $500M with 59 properties representing over 4.8 million square feet of leasable space. In February 2016, Devonshire REIT II was spun off to continue the mission of providing the most efficient and effective private commercial real estate investment vehicle available in the marketplace. Devonshire REIT II does not take asset management, acquisition, finance or disposition fees, so every invested dollar goes to work building shareholder value. Devonshire REIT II is available only to accredited investors. Find additional information at http://www.devreit.com.
About Inc. Media: Founded in 1979 and acquired in 2005 by Mansueto Ventures, Inc. is the only major brand dedicated exclusively to owners and managers of growing private companies, with the aim to deliver real solutions for today’s innovative company builders. Winner of the National Magazine Award for General Excellence in both 2014 and 2012. Total monthly audience reach for the brand has grown significantly from 2,000,000 in 2010 to over 15,000,000 today. For more information, visit www.inc.com
Executive VP & CMO
Devonshire REIT, Inc.
10100 Waterville Street
Whitehouse, OH 43571
This is not an offer to sell or a solicitation of an offer to buy any security or to invest in Devonshire REIT or Devonshire REIT II, Inc. or any of their affiliates. Any information provided herein is for informational purposes only and may not be relied upon in connection with the acquisition of securities of Devonshire REIT or Devonshire REIT II, Inc. or any of their affiliates. Any securities of Devonshire REIT or Devonshire REIT II, Inc. that are offered for sale will be available only to accredited investors and will be sold to accredited investors only upon the acceptance by Devonshire REIT or Devonshire REIT II, Inc. of completed subscription documents from such accredited investors.
Beginning at 7 a.m. today, the Toledo area will have another player vying for a slice of the grocery market financial pie.
Fresh Thyme Farmers Market, a suburban Chicago-based specialty supermarket chain that focuses on healthy produce, meats, and other items at affordable prices, premieres officially on Monroe Street in Sylvania Township with the aim of becoming more than a niche player.
“I think we can definitely become a destination store for a lot of people,” said Dustin Drouillard, a former Toledoan who returned to his hometown to manage Fresh Thyme’s first northwest Ohio store.
U.S. brick-and-mortar retailers have been shuttering hundreds of stores, a trend highlighted by last month’s announcement that Englewood, Colorado–based Sports Authority will close all of its 460 locations. Despite the carnage, investors who own retail space are faring better than would appear at first glance…
WHITEHOUSE, Ohio, May 16, 2016 /PRNewswire/ — Devonshire REIT, Inc., a private real estate investment trust, is pleased to announce the appointment of Michael A. Carroll as CEO and member of the Board of Directors.
Michael was previously CEO of Brixmor Property Group, Inc. (BRX) where he was responsible for the overall strategic direction and execution of company objectives across its entire portfolio of community and neighborhood shopping centers encompassing over 87 million square feet of gross leasable area.
One in four retailers worldwide surveyed for a March 2016 CBRE report plan to open six to 10 new stores in 2016. Another 23% say they plan to open 11 to 20 stores this year…
The retail sector is rebounding, albeit slowly. At the same time, it is in the midst of a metamorphosis brought on by the increasing use of omni-channel retailing and new store concepts.
At a time when a lot of chains are closing underperforming stores, there are five sectors where the industry will
WHITEHOUSE, Ohio, Jan. 6, 2016 /PRNewswire/ — Devonshire REIT, Inc., a private real estate investment trust, announced today its recognition by Real Estate Forum magazine as one of the fastest growing commercial real estate companies in the United States.Nominees were chosen from a nationwide pool of entrants… Read More
With Development Largely Restricted to Outlet Centers and Mixed-Use Infill Projects in CBDs, Many Retailers Left With Fewer Viable Options to Expand