Is ownership of the anchor tenant space required?
DLC generally prefers to own all of the anchor space in a shopping center, although we will consider just the inline stores and pad sites for high quality properties in outstanding locations, especially if the center offers an opportunity for value added returns.
Does DLC have a preference regarding anchor types?
We have a strong preference for shopping centers generating (or capable of generating) strong repeat consumer traffic. In addition to grocery-anchored centers, we own and actively acquire properties with less traditional anchors, including retailers that are leaders in a particular region or category, or are particularly well matched to a center’s demographic market.
Will DLC pursue acquisitions in non-institutional markets?
Yes. As a privately held, long-term investor, we are a natural buyer of well positioned centers located in less traditional markets, including smaller cities and secondary regions.
Does DLC acquire portfolios or packages of properties?
Yes, DLC is always interested in acquiring a portfolio or package of shopping center properties, and we have the capital to make these acquisitions a reality.
Will DLC consider centers with limited anchor tenant lease term remaining?
Yes. With our strong tenant relationships and leasing expertise, DLC can evaluate the probability and cost of renewing the tenant or re-leasing the space to a new, more appropriate anchor tenant.
Will DLC acquire properties subject to a ground lease?
Yes, depending on factors including the remaining term of the lease and the predictability of future rental payments. We usually require higher yields on properties subject to a ground lease.
Will DLC acquire a partial interest or entering into a joint venture?
While we typically prefer a 100% ownership interest, we will consider partial interests on a case-by-case basis.
Will DLC make unsolicited offers?
Yes, but only when we have enough information to value a property accurately. DLC is always available to meet property owners who are considering whether or not to sell an asset, and we find this approach far more effective than making uninvited offers.
Does DLC offer third party property management services?
Yes. With strong in-house capabilities supporting all critical real estate, financial, legal and reporting services, DLC operates every property with the insight and care of an owner, not a hired hand, ensuring third party assets are managed as if they are our own.
For more information on DLC’s acquisition program or to discuss a potential transaction in greater detail, please contact Jonathan Wigser at 914.631.3131 or via email.