COSTA MESA, CA—Donahue Schriber has secured an additional $100 million in equity investment for growth capital from the company’s major investors, the New York State Teachers’ Retirement System and J.P. Morgan Strategic Property Fund.
Patrick S. Donahue, chairman and CEO of the firm, says the money will help fund the company’s strategic growth plans during the next three to five years. He says the firm remains focused on expanding its holdings of grocery-anchored shopping centers in high barrier-to-entry, supply-constrained markets on the West Coast.
Donahue says he’s thrilled with the support from the investors. “Our teams are in place, our balance sheet is stronger than ever, and we are well positioned to take advantage of new market opportunities,” he says in a statement. The company owns and operates a portfolio of 76 neighborhood, community, and power shopping centers representing over 11 million square feet throughout California, Arizona, Nevada, Oregon and Washington.