Hamilton Lane Takes Majority Stake in 50,000-Sq-Ft Las Vegas Retail Center
Hamilton Lane funds have partnered with CenterSquare to recapitalize Tenaya Village, a five-building, 50,000-square-foot Essential Service Retail center in Las Vegas. Deal underscores Hamilton Lane’s growing focus on GP-led secondary real estate and essential retail investments.
1. Recapitalization Terms
Hamilton Lane funds have partnered with CenterSquare to recapitalize Tenaya Village, a five-building, 50,000-square-foot Essential Service Retail center in Las Vegas. Hamilton Lane becomes majority investor while CenterSquare retains a minority equity stake.
2. Tenaya Village Profile
Tenaya Village is an unanchored suburban Las Vegas retail center acquired by CenterSquare in 2022, benefiting from infill location and highway proximity that have driven robust tenant demand and rent growth.
3. Impact on Hamilton Lane Strategy
This investment expands Hamilton Lane’s GP-led secondary real estate portfolio and reinforces its essential retail focus, adding direct exposure to a niche shopping center with durable performance metrics.
4. CenterSquare’s Position
CenterSquare retains a minority stake, leveraging its portfolio of over 80 essential service retail centers and more than $1 billion in AUM to manage property operations and leasing strategy.