VIKING PARTNERS FUND II ACQUIRES NON-PERFORMING NOTE SECURED BY STONEFIELD SQUARE SHOPPING CENTER, LOUISVILLE, KY
June 11, 2012
Desirable Property Located In The Shelbyville Road Corridor
CINCINNATI, OH - June 11, 2012 - Viking Partners Fund II, LLC (“Viking”), acquired a non-performing note secured by Stonefield Square Shopping Center (“Stonefield”). Stonefield is located in a highly affluent and heavily traveled submarket along Shelbyville Road near St. Matthews Mall. The 90,000 + square foot shopping center is situated on nearly 10 acres of land and is tenanted by retailers including Fresh Market, CVS, Fifth-Third Bank, Great Clips, and others.
Stonefield represents the second acquisition for Fund II since its initial close in January 2012 and the second acquisition of 2012 for Viking. Viking continues to actively pursue value-add opportunities secured by commercial real estate located in the Midwest and Southeast regions of the United States. Current criteria for acquisitions includes: bank-held properties (“REO”), “Short” (pre-foreclosure) sales, motivated sales by distressed owners, mortgage note purchases (“loan-to-own”) and recapitalization of overleveraged but otherwise healthy properties. Viking has a preferred transaction range of $1 million to $25 million.
ABOUT VIKING PARTNERS
Viking Partners is a private equity real estate investment firm that focuses on value creation through the acquisition and turnaround of under-performing commercial real estate. Viking’s mission is to create wealth for investors through opportunistic investments backed by commercial real estate. For more information on Viking Partners, visit www.vikingpartnersllc.com.
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