PMAT Companies Announces the Acquisition of Regency CrossingPosted Jun 10, 2020
The PMAT Companies, a Louisiana-based owner and operator of shopping centers purchased, on June 5th, 2020, Regency Crossing, a 85,864-square-foot, value-add Publix anchored center in Port Richey, FL from an undisclosed Seller for $7.6 million. The property was 70% leased at time of sale. The center is located at 7003-7051 Ridge Road, 38 miles northwest of downtown Tampa in Pasco County. To accommodate the seller's desire for a quick close, PMAT closed on the transaction within 30 days of reaching agreement on basic deal terms. Regency Crossing is PMAT's 17th acquisition in Florida.
PMAT Companies have acquired and renovated over 40 primarily grocery anchored shopping centers with an aggregate transaction value of over 1 Billion dollars consisting of 9 million square feet. PMAT's investment strategy is to acquire value-add shopping centers and create long term value through redevelopment and re-tenanting of the assets.
For more information on PMAT please visit www.pmat.net
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