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 their 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 both 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.”
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About Invesco Real Estate:
Invesco Real Estate is a global leader in the real estate investment management business with $90.7 billion in real estate assets under management, 586 employees and 21 regional offices across the U.S., Europe and Asia (as of December 31, 2022). Invesco Real Estate was established in 1983 and today invests across the risk return spectrum, from core to opportunistic; in equity and debt; listed and direct; locally and globally. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd. Invesco Ltd. is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. NYSE: IVZ; http://www.invesco.com/realestate.
About Pine Tree:
Pine Tree is a Northbrook, Illinois-based full-service real estate company specializing in retail. Founded in 1995, Pine Tree’s current portfolio totals over $3 billion in assets under management. The company’s projects are located across the United States.