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.
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.
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
Work progresses on a 7,000-square-foot strip building at the entrance to the Shops at Franklin Place at 5235 Monroe St. The strip building, on the site of …
TOLEDO BLADE — Fresh Thyme Farmers Market, a suburban Chicago-based grocery chain that specializes in natural and organically grown produce, fruits, meats, and other items, will open a store in the former Office Depot location at 5105 Monroe St. in Sylvania Township, a local developer said Tuesday. Devonshire REIT, a local real estate investment trust that owns the 45,000-square-foot strip center where the grocer plans to operate, is redeveloping the site into a 30,250-square-foot market, plus two 2,000-square-foot spaces for smaller stores. It also will retain a fourth tenant, Bikram Yoga. Fresh Thyme tentatively plans to open in March. “They’re a good company and a good mix for that site,” said Doug Dymarkowski, Devonshire’s senior vice president and general counsel. “The Franklin Park area is one of
WHITEHOUSE, Ohio, April 22, 2015 /PRNewswire/ — Devonshire REIT, Inc., a private real estate investment trust, announced today the acquisitions of two shopping centers in southwest Florida, The Cypress Shopping Center in Tampa at a cost of $24.6M, and The Shoppes at Plantation in Fort Myers at $14.9M. With these acquisitions, the REIT has surpassed $500 million in total assets under management.
Meijer Inc. has purchased a 25-acre site near Waterville where it plans to build a grocery and general goods store. The Grand Rapids, Mich.-based retailer, which already has five stores in the Toledo area, had obtained a purchase option for the site on Waterville Swanton Road near U.S. 24 in 2013. It decided to buy the property at the end of January for $3.9 million. The sale was recorded Monday. Meijer spokesman Frank Guglielmi said the company has no timetable for groundbreaking or a store opening. “Whenever we’re considering a location for a store we’ll sign a contract to purchase a property. Then do our due diligence and buy the property, and then go through the process of working with the community,” he said. “This is not a store that we’re looking at building anytime soon…
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