Marquee Capital and Belay Investment Group Announce $70M Programmatic Joint Venture with Acquisition of Shoppes on Maine

Marquee Capital and Belay Investment Group have formed a $70 million joint venture to acquire and manage anchored retail strip centers across the Midwest.

MILWAUKEE, WI, UNITED STATES, October 16, 2025 /EINPresswire.com/ -- Marquee Capital, a Milwaukee-based real estate investment firm, and Belay Investment Group, headquartered in Los Angeles, have formed a $70 million programmatic joint venture to acquire and manage anchored retail strip centers across the Midwest. The partnership will focus on expanding and diversifying their retail portfolios through investments in premier suburban assets.

The programmatic joint venture launched with the acquisition of Shoppes on Maine in Rochester, MN. The property is anchored by Super Target and Lowe’s with a strong tenant lineup that includes national retailers such as Ross, Burlington, Old Navy, Maurices, Dollar Tree, and PetSmart, along with two small shop buildings anchored by Noodles & Company and Caribou Coffee. With in-place cash flow from a durable tenant roster and value-add potential through small shop vacancies, the Shoppes on Maine investment is an excellent illustration of the partnership’s strategy.

“We’re thrilled to kick off this programmatic joint venture with Belay by acquiring Shoppes on Maine,” said Jay Peirick, President of Marquee Capital. “This asset checks all our boxes: a high-performing Super Target drives strong foot traffic, it’s the premier center in the trade area, and it offers immediate cash flow from national tenants with upside through leasing opportunities. It’s the perfect investment to initiate our strategic partnership with the Belay team, which brings complementary expertise in capital deployment and underwriting, and a natural alignment given our common focus on making strategic acquisitions to generate long-term value.”

“Belay has a high level of conviction surrounding grocery-anchored retail investments in the Midwest due to strong market dynamics in the region, and the potential to access opportunities at a favorable basis with accretive financing. Shoppes on Maine benefits from these tailwinds and we look forward to continuing to invest in high quality retail assets across the Midwest with Marquee Capital through our programmatic joint venture” said Eliza Bailey, Co-Founder, CEO & CIO of Belay Investment Group.

Looking ahead, Marquee and Belay will work to build upon the momentum spurred by their Shoppes on Maine acquisition, pursuing investments in institutional grade neighborhood centers and retail power centers anchored by a traffic-generating grocer or big-box retailers located in thriving suburban markets throughout the Midwest, and where a significant portion of the asset is leased to investment-grade or national tenants. The partnership will look to target investments offering potential for the implementation of a value-add business plan, which will include strategic leasing initiatives as well as physical improvements and site optimization.

About Marquee Capital
Founded in 2008, Marquee Capital is a fully integrated real estate investment and asset management platform which leverages its in-house leasing, accounting, property management, and construction management teams to maximize value at the property level. Marquee is committed to excellence and strategic growth, using its team’s expertise in real estate investment and operations to create value for investors while contributing to the communities they serve. The firm currently manages over 2.7 million square feet of anchored retail strip centers across the Midwest, maintaining a top-tier collection of National and Regional retail tenants and a portfolio-wide occupancy rate of over 90%. For more information visit www.marqueecapital.com.

About Belay Investment Group
Belay Investment Group, LLC is an institutional real estate investment management firm that is at the forefront of providing scalable access to small-scale real estate. The Firm does this through programmatic partnerships with locally entrenched and specialized operators with exclusive deal flow and “on-the-ground” market insights throughout the US. Belay pursues investment opportunities across the risk spectrum, property types, and geographies, including both debt and equity, offering its clients unique access to these alpha generating real estate opportunities. Visit www.belayinvestmentgroup.com for more information.

Dan Sisel
Marquee Capital
+1 4145858877
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