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OAK BROOK, Ill. (June 25, 2024) – On behalf of a state pension fund client, Pine Tree has executed on the acquisition of Pavilion at Turkey Creek in Knoxville, Tennessee, for $56 million. Comprised of 657,000 total square feet, the 98% leased shopping center includes essential retailers Target, Walmart, Ross Dress for Less, PetSmart, Hobby Lobby, Five Below, Old Navy, and DSW.

Pine Tree had been engaged by the seller, Nuveen, to operate the high-performing asset since 4Q2020.

“Pavilion at Turkey Creek has performed extremely well during Pine Tree’s oversight period,” said Matt Lougee, President, Capital Markets, for Pine Tree. “We also recognized that it would be a great fit for our client and were excited to be able to facilitate this transaction on an off-market basis.”