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Sunbelt Retail · Schubiner × Maple Equity

Acquiring value-add multi-tenant neighborhood retail across the Sunbelt.

A joint venture between Schubiner and Maple Equity targeting 3–5 acquisitions ($30–90M) of unanchored and shadow-anchored neighborhood, community, and strip centers in high-growth Sunbelt submarkets through 2027.

01Acquisition Criteria

What we buy.

We hunt for cash-flowing centers with operational upside — under-managed leases, vacant boxes with backfill demand, mispriced renewals, and pad sites that can be repositioned or sold off.

Property Type
Retail
Unanchored & shadow-anchored neighborhood, community & strip centers
Size
20,000–80,000 SF
Price
$10–30M
Select to $40M
Going-In Cap
7.0%+
Occupancy
75–95%
Vintage
1985+
Or renovated within 15 years
Tenant Mix
70%+
Necessity · service · medtail · F&B
Trade Area
$75K+ HHI
1%+ pop growth · 50K+ daytime pop (3-mi)
Preferred
Pad / outparcel
Potential for outparcel acquisitions
02Target Markets

Where we buy.

Concentrated in high-growth Sunbelt MSAs with rising household incomes, strong daytime population, and durable demand drivers — anchored in the Carolinas, Florida, and Georgia, with select positions in Nashville and the Phoenix East Valley.

Map of Sunbelt target markets: Carolinas, Florida–Georgia, Tennessee, and Arizona
Carolinas
Charlotte–Raleigh
Greenville–Spartanburg
Charleston
Florida–Georgia
Atlanta MSA (select submarkets)¹
Jacksonville
Tampa–Orlando
Interior / West
Nashville
Phoenix East Valley
¹ Atlanta MSA excludes Clayton County, DeKalb south of I-20, and southwest Fulton.
03Capital & Execution

How we close.

Programmatic capital deployment built for sellers, brokers, and operating partners who value execution certainty.

01Committed JV equityJoint venture with committed HNW and family-office equity. No fund cycles, no committee decisions on every deal.
02Conservative capital stack55–65% LTV senior debt. No bridge, mezz, or pref. We underwrite to long-term hold cash flow, not interest-rate arbitrage.
03Programmatic buyer3–5 acquisitions ($30–90M total) targeted through 2027. Disciplined pacing, deep diligence, and clean closes that brokers and sellers can rely on.
We're not the right buyer for: ground-up development · single-tenant net lease · Class C/D assets · sub-$75K HHI trade areas · non-target tertiary markets.
Have a deal?
Send us the OM, T-12, rent roll, and trade-area demographics —
we'll come back with immediate feedback.