Finance Net Leasing
Schostak Bros., BVT Form JV
May 6, 2008

Schostak Brothers & Co., a Livonia, Mich.-based commercial real estate development and investment firm, has announced the formation of a joint venture with German real estate investment firm, BVT Equity Holdings. BVT’s U.S. operations are based in Atlanta, Ga. The joint venture will focus on shopping centers that are adjacent to a major discount department store such as Wal-Mart or Target. The partnership currently owns one of the largest portfolios of shadow-anchored centers in the country, possessing 34 properties in 14 states, all of which sit next to Wal-Mart Supercenters. The portfolio is valued at $136 million and encompasses nearly 881,000 square feet of retail space.

 
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