Charlotte, NC (March 11, 2008) - Neighborhood Revitalization Group (NRG) recently completed negotiations to acquire the 79,296 square foot Starmount Shopping Plaza and the 77,247 square foot Four Seasons Plaza. These properties are located in two of Charlotte, North Carolina’s busiest transit corridors (South Boulevard and Albemarle Road, respectively). The area surrounding Starmount is benefitting from the recently completed LYNX Light Rail System that runs parallel to South Boulevard, and has a station and parking area directly across the street from the shopping plaza. More than 48% of the population surrounding Starmount is Hispanic, and that number is expected to grow to 59% by 2010. Similarly, the Four Seasons Plaza is located in a section of Charlotte that continues to see rapid growth, both in the Hispanic population and in the number of new businesses being established there. Estimates predict that the Hispanic population in and around Four Seasons will continue to grow more than 5% annually over the next five years.
This is NRG’s second major transaction in Charlotte. Last June, NRG purchased the 80,000 square foot North Pointe Plaza on North Tryon Street which it currently manages. As in prior acquisitions, NRG will be sharing this investment opportunity with its network of investors who are actively involved in Hispanic community-renewal efforts. Interested investors should contactJames Sharples, NRG’s president, at 866.260.4110 or write to
before March 25, 2008.
NRG (www.nrgbuilds.com) is an affiliate of Bergerac Investments (www.bergeracinvestments.com), a private equity firm targeting Hispanic and Latino entrepreneurs in the mainland United States. To date, Bergerac Investments has provided over $40 million in funding to over 20 grass-root Hispanic initiatives.