Acquisition Criteria
Bison Partners is a real estate investment operating company focused on acquiring and repositioning retail properties across the Western United States. The firm targets properties with existing vacancy, below-market rents, loan maturities, partnership capital challenges and clear paths to NOI growth through active management, lease-up, and re-tenanting. BISON welcomes complexity and is actively sourcing off-market and lightly marketed opportunities where hands-on execution can unlock value.
Target Purchases
Value-add retail centers, power centers, shadow-anchored centers, vacant retail buildings, development parcels, and leasehold assets. No grocer requirement.
Asset Size
Multi-tenant centers: 35,000+ SF. Vacant land: 500,000+ SF. Minimum deal size of $20M with no maximum.
Target Markets
Western United States, generally Denver west. Primary, secondary, and tertiary markets.
Market Profile
County seats, college towns, and regional service hubs with stable employment bases and favorable growth trends.
Occupancy
Entry occupancy in the low 80s to low 90s with identifiable lease-up upside.
Investment Profile
Centers with below-market rents, near-term lease rollover, and a defined path to NOI growth over a 3 to 7 year hold period. Tax-sensitive transactions with staggered timing and structure are welcome.
Special Situations
Distressed capital stacks, debt maturities, over-leveraged assets, recapitalizations, failed marketing processes, false starts, and previously marketed properties.
Parcelization
Outparcel creation and pad development strategies to unlock embedded land value and generate additional income.
1031 Exchange
Flexible timing to accommodate seller exchanges and tax-sensitive disposition strategies.
Broker Protections
BISON protects brokers on off-market and previously marketed opportunities. Co-invest alongside us in the GP pari passu with our capital. For particularly compelling off-market deals, we are open to discussing imputed GP equity for the introducing broker.
Submit an Opportunity
We review every submission. If you have a property or situation that may fit our criteria, we would like to hear from you.
Brad Rable
Clay Rollins
Helpful to include
Rent roll, operating statements (trailing 12 months), site plan, parcel map, aerial photos, and lease abstracts.