Cohen & Steers Income Opportunities REIT, Inc.: M&A transaction — CNSREIT completes $127M acquisition of Bridgepointe Shopping Center in San Mateo, CA

Cohen & Steers Income Opportunities REIT, Inc.

Acquired 231,700 sq ft fully leased power center for ~$127M via JV with Sterling Organization.
Property 100% leased to 18 tenants including Nordstrom Rack, Marshalls, Total Wine & More, Ross Dress for Less.
Third acquisition with Sterling; fourth open-air shopping center in CNSREIT portfolio.
Attracts 8.58M annual visits; located in affluent San Mateo County with high income demographics.
Funded by offering proceeds and third-party mortgage financing.

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 TREA 3010 Bridgepointe Parkway LLC for approximately $127.0 million (closed 2024-12-20).

Action: acquisition
Counterparty: TREA 3010 Bridgepointe Parkway LLC
Consideration: approximately $127.0 million
Closing: 2024-12-20

Exact text from the filing

the Property Owner completed the purchase of the Property from the Seller on December 20, 2024 for an aggregate purchase price of approximately $127.0 million, subject to closing costs and customary prorations.

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Source: SEC EDGAR

accession 0001193125-24-283757

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