NORTHBROOK, Ill. (May 17, 2023) – Pine Tree today announced that it was awarded the management of two Washington DC-area retail assets, Cityline at Tenley and Burke Town Center, further expanding its national footprint. Both properties are currently owned by Invesco Real Estate, a global real estate investment manager. The addition of these two assets further grows Pine Tree’s owned and managed portfolios, totaling over 100 shopping centers and $3 billion of assets under management. Cityline at Tenley and Burke Towne Center are located in the Washington DC MSA with best-in-class demographics, mixed-use tenancy, and grocery anchors, aligning with Pine Tree’s strategy of necessity-based retail in top MSAs.
“We couldn’t be more excited to expand our deep relationship with our partner Invesco,” said Michael Gold, Chief Operating Officer at Pine Tree. “These assets further solidify Pine Tree as a national owner and operator, and specifically allow us to continue to exercise our management and value creation capabilities in the mid-Atlantic region.”