Younger Partners Investments acquired a fully-leased, three-property, 375,000-square-foot retail portfolio at I-35W and North Tarrant Parkway from developer Weber & Company. Â
The portfolio, known as Presidio Junction, consists of three contiguous retail centers: Presidio Towne Crossing, Tehama Towne Crossing and Vista Ridge. The 100% leased shopping centers are shadow anchored by Target and Costco and feature national retailers including TJ Maxx, HomeGoods, Ross, Aldi, Petco, Old Navy, and Sephora.
Developed between 2015 and 2020, the property also includes nine ground leases to restaurants and retailers such as Whataburger, Chick-fil-A, Uncle Julio’s, Jack in the Box and Chuck E. Cheese.
Younger Partners was led by Micah Ashford, Moody Younger and Kathy Permenter and team members Cort Martin and Susan Rasberry.
Younger Partners Property Services will provide property management, while Younger Partners will handle leasing at Presidio Junction.
The acquisition was financed with a senior loan facility from a life insurance company.  Institutional Property Advisors’ Adam Mengacci arranged both the senior loan and the preferred equity.Â
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