### Brixton Capital Forms $250M Joint Venture for Western U.S. Shopping Centers
San Diego-based Brixton Capital has secured a $250-million programmatic joint venture with a global alternative investment manager. The partnership, which enables approximately $700 million in acquisition capacity, is designed to expand Brixton’s portfolio of shopping centers across the Western United States. Target properties include grocery-anchored shopping centers, power centers, and select unanchored centers and strip malls.
As part of the joint venture’s first transaction, Brixton acquired Washington Square in Petaluma for $67.5 million. The purchase price represents roughly 60% of replacement cost, with multiple value-enhancing strategies planned for the property.
“We are proud to offer our joint venture partner more than 40 years of experience in West Coast retail, along with a best-in-class management team,” said Marc Brutten, chairman of Brixton Capital. “Our strong reputation for fostering tenant relationships and a proven track record of executing value-add retail investments helped us secure this investment.”
