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Hyperion Realty seeds grocery-anchored retail fund with $200M

Bisnow says Hyperion Realty Capital plans to grow the closed-end fund toward a $1B aggregate property value as more investors join.

Reported · Written up by our desk · Industry

Bisnow reports that Hyperion Realty Capital has launched a new grocery-anchored retail vehicle, Hyperion Grocery Retail Partners III, seeded with $200M in equity from GCM Grosvenor.

The outlet says Hyperion, a firm founded in 2019, plans to build the fund’s aggregate property value to $1B as additional investors are brought in, with the new capital continuing investments in the company’s Western markets portfolio.

According to Bisnow, Hyperion’s shopping center footprint includes 10 shopping centers in Western markets, and GCM Grosvenor’s investment will also come with a board seat at Hyperion in exchange for the capital.

Bisnow adds that Hyperion was founded by Jon Mendis, who previously led investments at Retail Opportunity Investments Corp., which was acquired by Blackstone in a $4B deal after he left the company.

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