Architect: J. Randy Daniels Architects
Recapitalization of a 62,000 SF distressed retail asset
“Loan to Own” Strategy Triangle Equities Purchased with Cash & Debt
Located in the densely populated retail corridor of the Freehold Raceway Mall, 200-220 Trotters Way is a 62,000 SF center composed of two roughly 30,000 SF retail spaces. The property had been a distressed retail asset that Triangle Equities recapitalized, enabling not only the financing of site renovations but also tenant improvements for leasing and stabilization.
In exchange for recapitalizing the asset, Triangle Equities entered into a joint-venture with the property owners and received a preferred equity agreement and a controlling ownership stake. Triangle Equities achieved full lease-up and stabilization and exited the investment in 2019.