Tri-Land Breaks Escrow on $10M Fund Targeting Grocery-Anchored Properties
Tri-Land Properties – a Chicago-based owner, operator, and redeveloper – has officially broken escrow on its fourth private real estate acquisition, Tri-Land Equity Investors IV LLC, or TLEI IV, after surpassing the minimum escrow threshold of $4 million in total commitments. The milestone allows the company to begin deploying capital for targeted value-add acquisitions.
TLEI IV is structured as a Delaware limited liability company, or LLC. Investors hold Class A units in the LLC. The fund operates under a Regulation D 506(c) private placement.
According to Tri-Land, TLEI IV is a value-add acquisition fund focused exclusively on grocery-anchored shopping centers located in what it identifies as strong secondary and tertiary markets across the Midwest and Southeast. Its strategy centers on acquiring underperforming centers with national anchor tenants like Kroger, or regional grocers such as Price Chopper in Kansas City, and repositioning the assets through capital improvements, redevelopment, re-tenanting, and out-lot development.
Fund leadership said it targets properties where either the grocer is a traffic driver with long-term viability or is in a location where it can bring an anchor grocer tenant to the center. The company also, relying on its in-house teams, sources centers that have leasing or physical upsides, e.g., below-market rents, vacant space, expansion potential, and there are opportunities for pad site or out-lot development.
Regarding TLEI IV, the company told AltsWire that it had 10 selling group members in the independent broker-dealer channel. With a total fund target of $10 million, limited capacity remains, and Tri-Land is currently accepting new subscriptions from accredited investors for the next 30 to 60 days. Investor minimums are $50,000 per unit.
According to Tri-Land Properties, TLEI IV introduces a non-cash investment structure, enabling accredited investors to pledge existing stocks, bonds, CDs, or money market holdings as collateral rather than liquidating them. This structure offers a unique opportunity to earn returns both on the pledged portfolio and from Tri-Land’s grocery-anchored real estate investments.
“This fund offers a smarter way for investors to participate in real estate without disrupting their current portfolio,” said RJ Johnson, vice president of business development at Tri-Land Properties. “It’s about compounding opportunities – not choosing between them.”
Tri-Land’s TLEI IV is currently under contract to acquire Noland Square Shopping Center, a grocery-anchored retail property located in Independence, Mo. It will be anchored by a Price Chopper. Tri-Land told AltsWire that it intends to acquire at least one to three more properties in addition to Noland and is currently doing due diligence on eight additional properties.
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