PETERSBURG, FL – (April 17, 2019) – The Sembler Company and Forge Capital Partners, in their Forge Real Estate Partners IV (FREP) investment fund, recently purchased Naples Lakes Village Center, a 59,863 square-foot retail center located in the Naples-Marco Island market at 8585 Collier Blvd.
Anchored by Publix, the center is currently 100% occupied. Naples is ranked number-one in projected population growth by Moody’s Analytics, and in the top 5% fastest-growing MSAs from 2010-2017 by the US Census Bureau.
“There is tremendous growth in the Collier Boulevard corridor, with significant entry barriers to limit competition,” said Sembler Chief Investment Officer Sean Davis. “Naples Lake Village is in a great location, and is a great fit for our fund with long-term value enhancement and stability.”
“Sembler has a 54-year history operating in all aspects of retail real estate: acquisitions, leasing, management and development,” said Sembler CEO Ron Wheeler. “That considerable expertise adds value to our centers and the communities we serve.”
Sembler will serve as Property Manager and Leasing Agent. Jessica Moreno (Jessica.Moreno@sembler.com) should be contacted for property leasing information.
In their FREP funds, Sembler and Forge have now acquired 14 shopping centers together in Florida, Georgia, North Carolina, Tennessee and Texas – and the partners are actively seeking additional investments in grocery-anchored shopping centers throughout the Southeast.
FREP is focused on the acquisition, development and redevelopment of retail real estate projects in the southeastern United States and Puerto Rico. FREP is a community development entity whose intent is to provide returns to investors seeking socially responsible investment opportunities while promoting economic revitalization, business development, and job creation in or near low and/or moderate-income communities. Investors include public financial institutions that will receive credit under the Community Reinvestment Act for such investments.
The Sembler Company is celebrating nearly 55 years of creating retail real estate value. Sembler provides a full array of retail real estate services, including development and redevelopment, acquisition, property and asset management, leasing and other related services throughout the Southeastern United States and Puerto Rico. Sembler has developed more than 350 projects totaling 27 million square feet and currently leases and manages 10 million square feet. For more information, please visit www.sembler.com.
About Forge Capital Partners:
Forge Capital Partners is a diversified, commercial real estate investment and investment management company. The company carries out its business strategy by sponsoring value-add retail real estate private equity funds. Since 2001, Forge and its principals have successfully sponsored four closed-end private equity funds: In conjunction with debt financing, these funds seek to invest over $1 billion of capital, over $700 million of which has already been invested. Forge is headquartered in Tampa, Fla. For more information about Forge Capital Partners, please visit www.forgecapitalpartners.com