Cohen & Steers Income Opportunities REIT, Inc.: M&A transaction — CNSREIT forms $300M grocery-anchored JV with PECO, acquires Des Peres Corners for $38.4M

Cohen & Steers Income Opportunities REIT, Inc.

Joint venture targets $300M in equity; CNSREIT owns 80%, PECO 20%.
First acquisition: Des Peres Corners (121K sq ft, 90% occupied, anchored by Schnucks grocer) in Des Peres, MO.
Total purchase price $38.4M, funded by share offering proceeds and property-level debt.
JV will focus on open-air grocery-anchored shopping centers leveraging PECO's expertise.
PECO is one of the largest publicly traded owners of grocery-anchored shopping centers in the U.S.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Cohen & Steers Income Opportunities REIT, Inc. completed an acquisition involving T-C Des Peres Corners LLC for $38.4 million (closed 2024-07-25).

Action: acquisition
Counterparty: T-C Des Peres Corners LLC
Consideration: $38.4 million
Closing: 2024-07-25

Exact text from the filing

grocer along with an array of national and local necessity-based retailers across the medical, beauty and personal care and food industries. The total purchase price was $38.4 million, subject to closing costs, customary prorations and escrow arrangements. The Company funded the acquisition using proceeds from (x) primarily its private offering of Class P

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Source: SEC EDGAR

accession 0001193125-24-184822

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