July 25, 2022
MDC Realty Advisors Manages Successful Sale of Retail Assets in the U.S.
Epic Investment Services is pleased to announce that its U.S. subsidiary, MDC Realty Advisors (MDC), has successfully completed $43.7M in dispositions of three high-end retail centers, located in Arizona, on behalf of private investors.
“We were able to capitalize on strong market dynamics for retail assets of this nature to achieve our investor portfolio goals,” said Allan Okabe, SVP, Investments. “With the uncertainty in the debt markets, Epic was able to execute on its disposition strategy to achieve optimal pricing that exceeded our pre-covid valuations. This is a testament to both the quality of the assets and our strong relationships in the U.S. market.”
The dispositions include:
- Corner on 7th, a 16,202 square foot, high foot-traffic urban retail center near downtown Phoenix, sold in June 2022
- Marketplace at Lincoln & Scottsdale, a 22,072 square foot high-end retail center in Scottsdale serving some of the strongest demographic areas in metro Phoenix, sold in June 2022.
- Paloma Village Center in Tucson, a 38,347 square foot high-profile shopping center located within a 12.9-acre mixed-use development in one of the most affluent areas of the city, sold in May 2022.
ABOUT EPIC INVESTMENT SERVICES
Epic Investment Services, which includes its wholly owned subsidiary MDC Realty Advisors in the United States, is a fully integrated North American real estate platform. Headquartered in Toronto, Canada, and operating from offices in Canada and the United States, Epic has over $17.5 billion in assets under management. Epic’s portfolio comprises over 30 million square feet of office, retail, industrial and multi-family residential properties.
ABOUT MDC REALTY ADVISORS
MDC Realty Advisors (MDC) is a wholly-owned US Subsidiary of Epic Investment Services. With its head office in Denver, CO, MDC manages over 6 million square feet of commercial assets across the US on behalf of institutional and private investors.