Marquee Capital and Belay take full ownership of Apple Glen Crossing

Marquee Capital and Belay Investment Group completed an equity transfer on June 10, 2026, giving their joint venture full ownership of the 150,274-square-foot Apple Glen Crossing in Fort Wayne, Indiana. The move extends a partnership that has already produced three acquisitions and underscores continued investor interest in anchored retail centers.

Why it matters: - The acquisition keeps a well-leased retail center under experienced ownership in a key Fort Wayne retail corridor. - Apple Glen Crossing adds to Marquee Capital and Belay Investment Group’s programmatic retail partnership, which is focused on anchored, necessity-based assets. - The transaction reflects continued demand for centers with national tenants, stable occupancy and assumable debt structures.

What happened: - Marquee Capital and Belay Investment Group completed an equity transfer that gave their joint venture full ownership of Apple Glen Crossing. - The transaction closed on June 10, 2026. - Apple Glen Crossing is a 150,274-square-foot shopping center in Fort Wayne, Indiana. - Marquee Capital originally acquired the property in December 2021.

The details: - Apple Glen Crossing is anchored by Dick’s Sporting Goods, Best Buy and PetSmart. - The center also includes Ulta Beauty, Shoe Carnival, Sally Beauty and Sport Clips. - The shopping center is approximately 95% occupied. - Walmart and Kohl’s shadow-anchor the property. - During its prior hold period, Marquee Capital completed key tenant renewals and backfilled several small-shop vacancies. - The partnership’s other acquisitions include Shoppes on Maine in Rochester, Minnesota, and Nagawaukee Center in Delafield, Wisconsin. - Marquee Capital manages more than 2.9 million square feet of retail centers across the Midwest and reports a portfolio-wide occupancy rate above 90%.

Between the lines: - The deal suggests Marquee Capital and Belay see value in holding assets with stable traffic and familiar tenancy rather than rotating out of a center they already know well. - Belay highlighted the asset’s going-in cash yield, low fixed-rate assumable debt and entry basis as reasons for confidence in the business plan. - Marquee’s leasing history at the property likely made the joint venture more comfortable assuming full ownership instead of starting over with a new operator.

What's next: - Marquee Capital said the acquisition supports its effort to build a premier collection of retail centers across the Midwest. - Belay said the Apple Glen Crossing purchase is the third acquisition in its partnership with Marquee. - The partners are likely to continue pursuing similar anchored retail opportunities through the programmatic venture.

The bottom line: - Apple Glen Crossing stays in experienced hands, and the deal deepens a retail partnership built around stable occupancy, national tenants and long-term operating control.