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M&A Deal Summary

IRC Retail Centers and PGGM Acquire Brownstones Shopping Center

On November 29, 2011, IRC Retail Centers and PGGM acquired real estate company Brownstones Shopping Center for 24M USD

Acquisition Highlights
  • This is IRC Retail Centers’ 17th and PGGM’s 2nd transaction in the Real Estate sector.
  • This is IRC Retail Centers’ 13th and PGGM’s 4th largest (disclosed) transaction.
  • This is IRC Retail Centers’ 17th and PGGM’s 2nd transaction in the United States.
  • This is IRC Retail Centers’ 5th and PGGM’s 1st transaction in Wisconsin.

M&A Deal Summary
Date 2011-11-29
Target Brownstones Shopping Center
Sector Real Estate
Buyer(s) IRC Retail Centers
PGGM
Deal Type Joint Venture
Deal Value 24M USD

Target

Brownstones Shopping Center

Wisconsin, United States
Brownstones Shopping Center is a grocery-anchored center includes 137,800 square feet of GLA and is anchored by Metro Market, an upscale grocery concept from Roundy’s Supermarkets, Inc.,

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Buyer(S) 2

Buyer

IRC Retail Centers

Oak Brook, Illinois, United States
Category Company
Founded 1994
Sector Real Estate
Employees141
Revenue 204M USD (2014)
DESCRIPTION
Inland Real Estate's corporate headquarters in Oak Brook, Illinois.
Inland Real Estate's corporate headquarters in Oak Brook, Illinois.

IRC Retail Centers LLC is a real estate company focused on owning and operating open-air neighborhood, community, and power shopping centers located in well-established markets primarily in the Central and Southeastern U.S. IRC Retail Centers was founded in 1994 and is based in Oak Brook, Illinois.

DEAL STATS #
Overall 17 of 32
Sector: Real Estate M&A 17 of 32
Type: Joint Venture M&A Deals 2 of 9
State: Wisconsin M&A 5 of 5
Country: United States M&A 17 of 32
Year: 2011 M&A 3 of 4
Size (of disclosed) 13 of 30
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-02 Red Top Plaza

Illinois, United States

Red Top Plaza, a 151,840 square foot neighborhood shopping center is anchored by SUPERVALU INC.’s Jewel-Osco, the leading grocery retailer in the Chicagoland area with a market share of 40 percent.

Buy $20M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-08 Elston Plaza

Illinois, United States

Elston Plaza, a grocery-anchored center totals 88,213 square feet of gross leasable area (GLA) and is anchored by Jewel-Osco, Chicago’s market-leading grocer, owned by SuperValu, Inc.

Buy $19M
Buyer

PGGM

Zeist,, Netherlands
Category Company
Sector Financial Services
DESCRIPTION

PGGM is a pension fund service provider and manage the pensions for different pension funds. Currently, Company manage pension assets worth in excess of approximately EUR 188,7 billion.

DEAL STATS #
Overall 2 of 11
Sector: Real Estate M&A 2 of 8
Type: Joint Venture M&A Deals 2 of 7
State: Wisconsin M&A 1 of 1
Country: United States M&A 2 of 7
Year: 2011 M&A 2 of 3
Size (of disclosed) 4 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-02 Red Top Plaza

Illinois, United States

Red Top Plaza, a 151,840 square foot neighborhood shopping center is anchored by SUPERVALU INC.’s Jewel-Osco, the leading grocery retailer in the Chicagoland area with a market share of 40 percent.

Buy $20M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-08 Elston Plaza

Illinois, United States

Elston Plaza, a grocery-anchored center totals 88,213 square feet of gross leasable area (GLA) and is anchored by Jewel-Osco, Chicago’s market-leading grocer, owned by SuperValu, Inc.

Buy $19M
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