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JLL brokers deal on The Rim shopping center in San Antonio May 14, 2021
JLL Capital Markets announced that it has closed the sale of and arranged acquisition financing for the RIM, the most visited mixed-use, open-air shopping center in Texas.
JLL marketed the property on behalf of the seller, HGR Liquidating Trust, a fund sponsored by Hines. Big V Property Group along with partner Equity Street Capital acquired the asset in a joint venture arranged by JLL that includes a preferred equity contribution from Kimco Realty Corp. Additionally, working on behalf of the new owner, JLL placed the three-year, floating-rate, non-recourse loan with an affiliate of Heitman. The RIM marks the largest open-air shopping center trade in square footage in the U.S. to sell year-to-date.