Younger Partners created a new platform to acquire retail properties: Younger Partners Investments. It will target retail properties from lifestyle to neighborhood centers in the Dallas-Fort Worth Metroplex. Along with this new division comes the hire of Micah Ashford to lead the charge.
“We feel like retail is one of the most disrupted sectors of commercial real estate,” said Younger Partners co-founder, Moody Younger. “While we can relate to the tough times COVID-19 has created for many, we are confident in the resilience of Texas and we are excited to make this investment in the future of retail and our region. The opportunity to add talent like Micah made the decision to launch this new platform an easy one for us.”
Ashford is coming off a two-year hiatus from a 20-year career as a partner at Dunhill Partners, a leading commercial real estate firm in the Southwest that focuses on retail shopping centers. Her diversified experience encompasses all facets of commercial real estate including transactional activities, finance and acquisitions.
“It is wonderful to join this dynamic organization with such a solid reputation in the commercial real estate industry,” Ashford said. “The timing of adding this new investment platform was incredible as I return to the industry. Retail has been cruising along and the impact of the COVID-19 pandemic is unprecedented. I see this as a true opportunity.”
Ashford’s role at Younger Partners will include directing acquisitions, financing and dispositions. She will originate new property opportunities, negotiate partnerships and loan documents, as well as oversee the physical and financial due diligence on those acquisitions.
According to Younger Partners co-founder, Kathy Permenter, the new division has been part of the partners’ long-term strategy. “With the market going through dramatic changes as the result of the COVID-19 pandemic, this is a good time to do it,” she said. “I started my career in retail, and it continues to interest me. I look forward to investing in this sector.”
Younger said that three key factors played a role in why retail was the logical choice for the investment line. First, it doesn’t conflict with Younger Partners’ existing service lines. Additionally, he believes opportunities will emerge in retail and value can be created. Finally, Ashford’s availability to lead the team was the clincher.