Canopy Real Estate Partners has acquired Gold’s Marketplace in Wheat Ridge for $15.8 million, as part of its new investment approach centered on creating hybrid financial products that offer annual returns of 6% to 8% along with equity potential. This acquisition is the firm’s fifth investment in a strategy that founder Jay Rollins describes as a “bond-like product.” These investments are intended to provide financial stability with growth opportunities over a three to five-year period.
The 59,000-square-foot retail center, which is currently 83% occupied with multiple tenants, was purchased to enhance Canopy’s portfolio designed for frustrated investors seeking alternatives to larger, fee-heavy funds. Rollins criticized the trend in financial services toward consolidation, which he believes misaligns the interests of large fund managers with those of individual investors.
Canopy partners with local real estate sponsors to develop these investment opportunities. For the Gold’s Marketplace acquisition, Canopy collaborated with Denver-based CentrePoint Properties, which plans to increase rents and unlock additional revenue potential from the property.
Canopy Real Estate Partners focuses on middle-market assets, says that it aims to provide reliable dividends, transparency and alignment of incentives for investors.
