Mobile-based Burton Property Group (BPG) recently announced the recapitalization of its firm with a new institutional partnership with North Carolina-based SilverCap Partners. The move is anticipated to strengthen the firm and broaden its real estate portfolio, per a news release.
“The partnership with SilverCap marks a new chapter for our company,” BPG President and CEO Philip Burton said. “It not only increases our ability to tackle major real estate projects, but also represents a secure path forward for the company and its investors.”
SilverCap’s additional funding brings BPG’s total investment dollars to more than $125 million, which will be used to take on new projects such as the $23 million expansion of BPG’s Foley Square Shopping Center in Foley.
In addition to BPG’s current list of projects, there is also an estimated $100 million in planned development, which BPG forecasts to be executed within the next two to three years.
BPG, founded in 2012, is a private regional commercial real estate investment, development and management firm. The company can trace its capitalization back over a century to the Mobile-based Smith’s Bakery and its sale, which successfully financed more family-owned real estate investments such as the Silver Sands Retail Outlet in Destin, Florida.
From an initial investment outlay of $15 million, BPG has grown to manage a portfolio of $200 million in retail development covering the Southeast. The portfolio includes Springhill Village, Crestview Corners, Schillinger Town Center, Westwood Plaza, BB&T Financial Plaza, Jubilee Square, Foley Square and McKenzie Village.
SilverCap Partners is a real estate private equity firm based in Charlotte, North Carolina, focuses on investments in the southeastern U.S. The firm’s expertise crosses multiple property sectors with a predominant focus on office, retail, industrial and residential investments.
