Tag Archives: rick kuhle

Vestar - Kerri Schneider

Vestar Hires Kerri Schneider To Help Grow Its Retail Portfolio

Vestar hired Kerri Schneider as Director of Fund Investments.

She will be based in the firm’s Phoenix headquarters and will assist with fund raising efforts, managing investor relationships and helping identify and underwrite acquisition opportunities throughout major metro markets in the West.

“Kerri’s acquisitions, underwriting and asset management experience will help our firm continue its aggressive effort to acquire and reposition quality retail properties” said Rick Kuhle, President of Vestar.  “We firmly believe that our in-house capabilities will allow our investors to realize extremely attractive risk-adjusted returns for the assets we successfully acquire over the next 24 – 48 months.”

Schneider joins Vestar with an impressive background that includes more than 10 years real estate experience. Most recently she served as a Vice President at Lubert-Adler where she was responsible for establishing and maintaining joint venture relationships with third-party operators in addition to acquiring and asset managing a portfolio of west coast retail properties.

In addition, she spent three years as a Senior Associate at Heitman in Chicago creating and managing joint venture platforms across a myriad of property types.

Schneider earned a Bachelor of Arts degree from Northwestern University in Evanston, Illinois with an Economics Major.

For more information on Vestar, visit vestar.com.

Vestar Development Investment

Vestar Development, Rockwood Capital Acquire LV Retail Center for $79M

Phoenix-based Vestar Development, in a joint venture with New York-based Rockwood Capital, is acquiring The District at Green Valley Ranch, a 384,107 SF landmark retail property located outside of Las Vegas, for $79M, the firms announced.

The all-cash deal, the city’s second largest commercial real estate investment transaction in three years, closed Friday, October 21.

“Now is a great time to invest in the Las Vegas retail real estate market, particularly in projects like this one,” says Rick Kuhle, president of Vestar Development. “This center has recently struggled, but we are confident and excited about stabilizing it over the coming year. We’re very bullish about these types of value-added investment opportunities and are aggressively seeking more properties like it in Las Vegas and throughout the West.”

We believe this is a compelling opportunity based upon the high quality of the center and the solid in-place cash flow,” says Joel Mayer, managing director at Rockwood Capital. “We have a longstanding relationship with Vestar and their extensive knowledge of this asset and market make them the ideal partner for this project.” 

Richard Walter, president, and Donald MacLellan, senior managing director, out of Faris Lee’s Irvine, Calif., headquarters, and Rob Moore, senior managing director in Faris Lee’s Las Vegas office represented the seller, LNR Partners, LLC. 

The District is located within Green Valley Ranch, a leading master-planned community located in the Black Mountain foothills, about 10 miles southeast of the Las Vegas Strip.

Phase one of The District was developed in 2004 and encompasses 212,622 SF of retail and office space on the west side of Green Valley Parkway. The 21.54-acre property is comprised of 50 national and regional stores and restaurants; 88 luxury condominiums; and complementary office users. The shopping, dining, entertainment, residences and office space are joined via a pedestrian-friendly main street plaza and a central park. Phase one is 85% leased to several high-profile tenants including REI, Pottery Barn, Anthropologie, Williams-Sonoma, Ann Taylor Loft, White House/Black Market, King’s Fish House and P.F. Chang’s.

Phase two of The District was developed in 2006 and totals 171,485 SF on 16.02 acres. The property consists of six buildings with a retail and office tenant mix. Phase two is 82% leased, anchored by Whole Foods and also including tenants such as West Elm and The Cheesecake Factory.

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For more information about Vestar Development, Rockwood Capital or The District at Green Valley Ranch, visit:

www.vestar.com
www.rockwoodcap.com

www.thedistrictatgvr.com

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