Columbia, S.C. - Edens & Avant recently received a $250 million infusion of growth capital from two New York-based institutional investors.
The transaction gives J.P. Morgan Investment Management and The New York State Teachers' Retirement System an ownership stake of approximately 30% in the private real estate firm. The State of Michigan Retirement System and Edens & Avant Management hold the balance.
Proceeds from the transaction will be used for Edens & Avant's continued shopping center acquisition, development and re-development programs. Based in Columbia, the company owns and/or manages more than 250 grocery-anchored shopping centers in 18 states and provides tenant and property management services to more than 4,500 retail tenants.