Waterstone Properties Group Acquires Thirty million Dollar Retail Condo within Braintree Marketplace MABA MassachusettsRealEstate FirstTimeHomeBuyers MaBuyerAgent

 NEEDHAM, MA– Waterstone Properties Group has closed on the acquisition of a eight six thousand square feet retail condo within Braintree Marketplace, one of Massachusetts busiest shopping centers, seeing more than one point nine million visits annually and one hundred and six thousand vehicles per day. The shopping center is anchored by Nordstrom Rack, Ulta beauty and a “to be announced” national grocer concept. The site also has a six thousand square feet pad expansion opportunity and was acquired from Seritage Growth Properties.

  Waterstone Properties is focused on expanding its retail portfolio in high growth markets along the eastern seaboard, targeting existing shopping centers with unrealized upside by leveraging Waterstone’s deep in-house expertise and core competencies in leasing, development, and active asset management. “Our strategy is rooted in strong supply and demand fundamentals within suburban markets and secondary cities, presenting a compelling acquisition opportunity,” said Richard Greer, CIO of Waterstone. Neal Shalom, Chairman and Co-Founder of Waterstone, added.

  “By leveraging our existing infrastructure and strong tenant and broker relationships we can acquire and reposition underperforming centers, unlocking value and delivering opportunistic, risk-adjusted returns.” As part of this expansion, Waterstone aims to acquire approximately two hundred and fifty million dollars in gross asset value (GAV) over the next several years.

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