The Sembler Company and Forge Capital Partners, in their Forge Real Estate Partners IV (FREP) investment fund, recently purchased Centre at Culpeper, a 72,869 square-foot property located in the primary retail node of Culpeper, VA.
“Culpeper is a growing housing/office market that offers an affordable alternative as more and more people are priced out of the Northern Virginia suburbs closer to Washington, DC,” said Sean Davis, Sembler Chief Investment Officer. “It’s a well-established center with a renovated anchor, and it’s a great fit for our fund to add value through leasing and improvements.”
Centre at Culpeper is anchored by Aldi, with a strong collection of both local and national tenants in inline spaces. Located at the high-visibility corner of Montanus Drive (US Hwy. 15/29) and Brandy Road, there are only two spaces currently available for lease.
Sembler will serve as Property Manager and Leasing Agent for the Centre at Culpeper. Emily Mills (firstname.lastname@example.org) is the contact for property leasing information.
“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 and Forge have now acquired twelve shopping centers together in Virginia, Florida, North Carolina, Tennessee and Texas – and the joint venture partners are actively seeking additional investments in grocery-anchored shopping centers throughout the Southeast. FREP is a community development entity whose intent is to provide best-in-class 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.
Contact: Amy Spoor