Jubilee Square in Daphne is among the BPG properties in the Mobile region. (Elise Poche photo courtesy BPG/Portside Advertising)
A Mobile-based real estate investment company, Burton Property Group, has announced a partnership with a private equity firm that will give it millions of dollars in additional money for development projects in the region.
According to information released Tuesday by Burton Property Group BPG), the "transition reflects a new institutional partnership with North Carolina-based SilverCap Partners, which will strengthen the firm and broaden its direction." It increases Burton’s available investment dollars to more than $125 million, "which will be used to take on new projects, including a $23 million expansion of BPG’s Foley Square Shopping Center."
Burton foresees about $100 million in planned development in the next two to three years in addition to its current projects, according to Tuesday’s statement.
Burton was founded in 2012 but "can trace its capitalization back over a century to the Mobile-based Smith’s Bakery and its sale," which financed investments in developments such as the Silver Sands Retail Outlet in Destin. BPG says it now manages a $200 million portfolio of properties.