Keizer Village

Cumberland Holdings is pleased to announce the recent purchase of Keizer Village in Keizer, Oregon (Salem MSA). The transaction closed on June 5, 2015. This 76,000 square foot shopping center is located on River Road and is 95% leased with tenants including: Goodwill Industries, Edge Fitness, Little Caesars, Metro PCS and Subway.

“The shopping center has excellent visibility in a growing market,” says Scott Chernoff, Principal at Cumberland Holdings. “It further meets our investment criteria of functional real estate that generates high yielding cash flow.”

This transaction marks Cumberland’s third shopping center investment in Oregon over the last 18 months. Equity was from tax deferred exchange proceeds from a Cumberland sponsored investment and new equity proceeds from Cumberland‚s investors. Morgan Stanley Bank provided mortgage financing arranged by Melvin Mark Capital. The Pennbrook Company is providing property management services.