Prudent Growth Purchases SouthGate Centre in Florida

Whats Happening:

Prudent Growth Partners, a private equity real estate fund based in Chapel Hill and Charlotte, NC, has completed the purchase of SouthGate Centre in Gainesville, Florida for $5.23 million. The 24,025-square-foot shopping center, built in 1989, is strategically located 1.5 miles from the University of Florida and features 13 tenants with staggered lease expirations.

Key Moves:

• Prudent Growth Partners acquires SouthGate Centre for $5.23 million

• The property is a 24,025-square-foot shopping center with 13 tenants

• SouthGate Centre is located 1.5 miles from the University of Florida

By The Numbers:

• Purchase price: $5.23 million

• Property size: 24,025 square feet

• Number of tenants: 13

Key Quotes:

• "We are excited about the purchase of SouthGate Centre, another acquisition in Florida. We look forward to the performance of this property as it has a strategic location in a visible and active area close to a large state university," said Tom Hahn, President of Prudent Growth Partners, LLC.

• "It is another good acquisition for our investors and a wonderful addition to our property portfolio."

Bottom Line:

Prudent Growth Partners' acquisition of SouthGate Centre in Gainesville, Florida, demonstrates the fund's strategy of investing in well-located, multi-tenant retail properties with potential for value appreciation. The purchase aligns with their focus on properties that offer exceptional returns and the possibility of longer-term capital gains through expert management.

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