Cohen & Steers Income Opportunities REIT acquires 1890 Ranch Shopping Center in Austin

Cohen & Steers Income Opportunities REIT, Inc.

Acquired 442,000 sq ft power center in Cedar Park, Austin; 99% occupied with Target as shadow anchor.
Investment made through programmatic joint venture with Sterling Organization.
Tenants include Academy Sports, Crunch Fitness, Burlington, Ross, Hobby Lobby, Ashley Furniture.
CEO notes Austin's growth and underdeveloped retail infrastructure as key rationale.
CNSREIT focuses on necessity-driven centers; open-air center occupancy at 16-year high of 95.1%.

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