FrontRange Capital has launched a $150 million programmatic joint venture with O’Connor Capital Partners to develop triple net leased retail properties. The equity for the venture comes from a FrontRange-managed fund backed exclusively by one of the country’s largest university endowments.
The joint venture plans to deliver 12 to 15 triple net leased retail projects in strategic East Coast markets. O’Connor Capital Partners will spearhead site selection, development and leasing, while FrontRange Capital will oversee asset management for the platform. Each property will be leased to nationally recognized retailers under long-term triple net agreements.
At the beginning of 2024, FrontRange and O’Connor also launched a separate $50 million programmatic joint venture, with FrontRange contributing $35 million through its Co-GP Property Fund. The capital is being deployed by O’Connor to support its expanding pipeline of multifamily, industrial and retail development and acquisition opportunities.
In April of last year, O’Connor—in a joint venture of The Hampshire Cos. and Federated Hermes—obtained $47.1 million for the refinancing of The Crosslands, a nine-building, 529,212-square-foot power center in Kissimmee, Fla.
Private capital is becoming an increasingly influential force amid shifting retail market trends. As institutional investors retreat from certain segments, high-net-worth individuals and smaller private groups are stepping in—drawn by the sector’s income stability and long-term growth potential.
