Big V makes its first investment offering to accredited investors
Big V Property Group has announced that it is “democratizing” retail real estate with its first investment opportunity for accredited investors in one of its largest centers.
The Charlotte, N.C.-based developer has launched a $2.5 million offering for pre-qualified investors in its Rim mixed-use district in San Antonio. It is Texas’ most highly-trafficked retail destination, drawing more than 17 million visitors a year.
“Over 84 years, my family has owned and managed more than 90 open-air centers and more than $4 billion of total assets. The capital has come from four places: my family, our friends, our institutional partners, and our banks,” said Jeffrey Rosenberg, the chairman and CEO of Big V. “We are excited to now officially open these opportunities to a broader audience, starting with the opportunity to invest in one of our marquee properties.”
Rim, which opened in 2006 on the site of a former quarry, was acquired by Big V in 2021. Since then, it has added more than 700,000 square feet of gross leasable area, nearly doubling the size of the development with new stores and restaurants.
Among the 90-plus tenants at Rim are Bass Pro Shops, Dick’s Sporting Goods, JCPenney, Hobby Lobby, Lowe’s, Santikos IMAX Theaters, Burlington, Lifetime Fitness, Nordstrom Rack, Old Navy, Target, TJ Maxx, Ross Dress for Less, Boot Barn and Total Wine & More.
A current partner in Big V chose to exit his investment in Rim, creating the opportunity for the company’s formation of the new investor platform, which is called Big V Direct.
A family-owned retail real estate company with more than 80 years of ownership and operating history, Big V now has nearly $2 billion in assets under management across 11 states totaling roughly seven million square feet of gross leasable area.
Its business operations include acquisitions, capital markets, leasing, asset management, property management and construction management.
Big V’s press release noted that only a small percentage of opportunities meet its high standards and will be presented to investors.
