ELMSFORD, NY / ACCESS Newswire / October 15, 2025 / DLC, in joint venture with a Fund managed by DRA Advisors, is set to acquire a ten-property, $600+ million portfolio of premier grocery-anchored shopping centers across California and Seattle. This acquisition will mark DLC's expansion to the West Coast, where the firm will open a new regional office to oversee the portfolio and support further growth in the Pacific and Mountain West.

"This joint venture marks a landmark moment for DLC as we expand to the West Coast and continue our evolution into a truly national enterprise," said Adam Ifshin, Co-Founder and CEO of DLC. "Our longtime partners at DRA sourced the opportunity and had the vision to bring us in, recognizing that DLC's owner-operator model and best-in-class value creation platform are uniquely positioned to maximize the potential of this portfolio. While we have selectively invested in western markets before-most notably in San Diego, Seattle, and Southern California-this is the first opportunity of scale and quality to warrant establishing a permanent West Coast presence."

The joint venture will acquire the portfolio from Merlone Geier. Building on the many successful transactions DRA and DLC have executed together over the years, DLC will once again provide its value creation, leasing, property management, and construction management expertise to the partnership. This transaction also marks the 12^th deal that DLC has closed since December 2023 with its co-General Partner, Temerity Strategic Partners, which has committed growth capital to help DLC expand its assets by $2 billion by 2026.

"Our culture is the engine behind this expansion," said Chris Ressa, Partner and COO at DLC. "We are excited to welcome new West Coast team members into a culture defined by collaboration, accountability, and growth. This move is just the beginning of our effort to build a truly national platform-and it's an exciting time to be part of DLC."

Recognized as a Great Place to Work® for the past eight years, DLC continues to grow not only as a leading national retail platform but also as a team-oriented organization committed to creativity, collaboration, and an owner-operator mindset. With this expansion, DLC is actively recruiting talented professionals to join its mission of creating lasting value for communities, retailers, and investors.

###

About DLC

DLC is a leading owner and operator of open-air shopping centers across the United States, with more than $3 billion and 21 million square feet in assets under management. Our portfolio of over 80 centers reflects a disciplined investment strategy and an owner-operator mindset that consistently delivers value through strategic acquisitions, innovative asset management, and transformative redevelopment. Powered by a people-first culture, DLC's team partners with retailers, investors, and communities to create thriving shopping destinations that fuel growth and opportunity.

About DRA Advisors

DRA Advisors LLC is a New York-based registered investment advisor with approximately 100 employees that specializes in real estate investment management services for institutional and private investors including pension funds, university endowments, sovereign wealth funds, foundations, and insurance companies. Since DRA's inception in 1986, the firm has opened additional offices in Miami and San Francisco and has acquired over $41 billion of real estate. Its acquisitions include 100 million square feet of industrial, 86,500 multifamily units, 89 million square feet of retail, and 65 million square feet of office. As of December 31, 2024, DRA had $11.1 billion in gross assets under management. http://draadvisors.com

Contact Information

SOURCE: DLC