How a Birmingham real estate acquisitions firm is weathering COVID-19

The COVID-19 pandemic continues to lay waste to sections of the world economy, but one Birmingham real estate acquisition and development firm is seeing opportunity.

Sanders Capital Partners today announced its acquisition of a $2.2 million neighborhood retail center in Terre Haute, Ind., which marks an expansion into the Indiana market.

Honey Creek Pointe is a 7,871-square-foot Walmart-anchored neighborhood retail center, with neighboring retailers including Aldi, Panera Bread and Walmart. It has four tenants: ATI Physical Therapy, Sport Clips, Royal Nails and Five Guys.

Jackson Stewart, executive vice president and general counsel for Sanders Capital Partners said even in a pandemic, “there is no substitute for high-traffic locations with the right mix of durable tenants, like we see here.”

“It is no secret that the landscape for retail assets during a pandemic has a unique set of challenges. Regardless, we are continuing to identify quality opportunities, like Honey Creek,” Stewart said.

Sanders Capital Partners has been developing and acquiring retail centers, office buildings, strategic land and light industrial properties primarily throughout the Southeast and Midwest over the past five years. Last year, it acquired shopping centers in Fort Payne and Cedartown, Ga., as well as a Louisville retail center.

“We have a front row view of retail in the Amazon/COVID-19 economy through our Southeast and Midwest portfolios and we are seeing the inherent resilience of certain asset types and tenant mixes,” Stewart said. “We are keen to see even more exposure to such assets with our future acquisitions, especially in Indiana.”

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