Pantheon Announces Strategic Real Estate Partnership

• Joint venture with ShopOne and a leading global institutional investor
• Investment strategy will focus on grocery-anchored shopping centers in key U.S. growth markets
• Recapitalization of seed portfolio owned by ShopOne, with additional capital to create investment capacity of more than $1 billion

Pantheon, a global provider of diversified private markets investment solutions, ShopOne Centers REIT Inc. (“ShopOne”), a specialist investor, manager and operator of grocery-anchored shopping centers across the U.S., and a leading global institutional investor have announced a strategic partnership to invest in necessity-based and value-oriented grocery-anchored shopping centers in key growth markets across the U.S.

Specifically, the joint venture will target retail centers located in high-population metropolitan areas, as well as select college towns and established vacation destinations. It will initially recapitalize a portfolio of properties owned by ShopOne that are consistent with the target investment criteria, with the partners each investing additional capital that will give the venture the ability to deploy in excess of $1 billion.

The investment is in line with Pantheon’s real estate strategy, which was launched in July 2021 to provide flexible capital solutions to institutional-quality owner-operators seeking to recapitalize assets and fund ongoing growth across specialized sub-sectors.

“We are delighted with the strong momentum and deal flow our team has generated since launching Pantheon’s real estate strategy last year,” said Roman Braslavsky, Head of Real Estate. “Our joint venture with ShopOne showcases our strategy of accessing attractive real estate assets underpinned by strong fundamentals and identified value creation drivers, alongside specialized owner-operators.”

David Elliott, Managing Director in Pantheon’s real estate group, added: “We are excited to partner with ShopOne, leveraging the team’s depth of experience in this resilient sector to identify, invest in and improve well-located neighborhood centers that are integral to their surrounding communities.”

“We are very excited to form this partnership with two highly experienced institutional partners that possess deep relationships within the investment community,” said John Roche, Chief Executive Officer of ShopOne. “Like us, they are bullish on the near- and long-term fundamentals of grocery-anchored shopping centers and the attractive risk-adjusted returns these assets can generate. By combining forces, we have the capital and platform to strategically add scale in the markets we target and unlock value for the communities we serve.”

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