Blockbuster Portfolio

Blockbuster Store Front

Vintage Real Estate Fund, LLC secured part of the capitalization for Crosland Southeast’s acquisition of a portfolio of 24 company-owned Blockbuster stores valued over $27 million. It included stores in Florida, Tennessee, Louisiana, South Carolina, and North Carolina. Crosland retained 13 stores in its home market of North Carolina, while opting to sell the remainder to other buyers. Most of the stores remaining in Crosland’s portfolio are pre-leased to other retail and medical tenants. The deal came together in 120 days as a joint venture with Legend Retail Group of Denver, Co. After acquiring Blockbuster following a 2010 Chapter II bankruptcy filing, DISH Network opted to sell the company-owned real estate assets, most of which were represented in this acquisition.