The private equity firm First National Realty Partners (FNRP) has completed its acquisition of Horizon Village, a 113,252-square-foot shopping center in Phoenix.
The financial terms of the acquisition were not disclosed. The transaction marks the firm’s entrance into Arizona and expands its presence into 26 states.
Horizon Village is anchored by Food City, an affiliate of Raley’s Supermarket, which has operated at the shopping center for more than 30 years. Other tenants include is Ace Hardware, Oak Street Health, Boost Mobile, Buffalo Wild Wings, Burger King and Subway.
“We are confident that Horizon Village will continue to be a vibrant hub for the Phoenix community,” said Matt Annibale, vice president of acquisitions. “The necessity-based tenancy, combined with the strong population growth within the trade area, positions the center well to benefit both our investors and the community. “Horizon Village perfectly underscores our investment strategy, focusing on high-performing grocery-anchored assets in thriving markets.”
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