Brasswater, a Montréal-based real estate investment, development and management firm, has spent about US$72M on two properties as it expands across the U.S. Sun Belt.

The privately owned company paid about US$50M for Cross Country Plaza at 3201 Macon Rd. in Columbus, Ga.

The 304,735-SF shopping centre is 95% leased to 39 retailers and generated approximately 5.6 million customer visits over the past year. Publix anchors the property alongside TJ Maxx, Pet Supermarket, Goodwill, Chipotle and Chuck E. Cheese.

Brasswater said the acquisition offers opportunities to increase the centre’s income through an active leasing program while benefiting from the grocery anchor’s established customer base.

The firm also paid US$22M for the 117-room Hampton Inn & Suites Lakeland-South Polk Parkway at 3630 Lakeside Village Blvd. in Lakeland, Fla.

Built in 2008 and recently renovated, the six-storey hotel is part of Lakeside Village, an 88-acre retail and dining development between Tampa and Orlando.

The acquisition is Brasswater’s first Florida hotel and marks its return to hospitality investment after more than a decade. The company plans to acquire additional limited-service hotels across Florida.

Pictured: Cross Country Plaza at 3201 Macon Rd. in Columbus, Ga.