Octave Holdings and Investments Acquires Maple Hill Pavilion
Maple Hill Pavilion, a 276,397 square foot Target shadow-anchored center, is located in close proximity to Western Michigan University. The center is over 98% occupied and is comprised of a great mix of national, regional and local tenants including Burlington, Ulta, Old Navy, Marshalls, PetSmart, Five Below, Dollar Tree, and DSW. Additionally, the center offers a 12-acre parcel available for future development.
“Maple Hill is a value-add power center that is going to be a great acquisition for our fund because it is anchored by best-in-class tenants of which several are paying percentage rent. We were elated to complete this acquisition in such a volatile environment and look forward to acquiring additional properties this year,” said Scott Henard, Octave’s EVP and Director of Acquisitions.
“We are very excited to complete this compelling acquisition, our second in Michigan, which is in line with our vision to look nationwide for solid CRE deals that enable us to maximize profits for our investors, while meeting our cash-on-cash and annual return criteria,” said Zia Rahman, Octave co-founder and Chief Strategy Officer.
Sridhar Marupudi, Octave’s co-founder and CEO said, “the addition of Maple Hill brings our current portfolio size to close to $600 million and we look forward to continuing to add diversified commercial properties to our portfolio.”
“We are thrilled about the potential opportunities to develop the additional 12-acres to provide upside to our investors,” commented Parth Munshi, Octave’s EVP and General Counsel, who along with Scott Henard led Octave’s inhouse acquisition team.
Maple Hill Pavilion will be professionally managed by Octave’s dedicated property management company, Pinnacle Leasing and Management.
About Octave
Octave Holdings and Investments, LLC is a privately held real estate investment company that owns, operates and manages, a portfolio of over 45 commercial real estate assets in thirteen states valued at approximately $600 million.
Octave’s mission is to create an extraordinary investment experience leveraging our proven real estate strategies, our intuitive and dynamic investor portal, alongside our unparalleled customer experience.
Octave and its affiliates seek to deliver above average returns to their stakeholders by implementing a disciplined investment strategy, developing and maintaining strategic partnerships throughout the commercial real estate industry, and maintaining an alignment of interests with investors.
Parth Munshi
Octave Holdings and Investments
+1 404-218-3600
email us here
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