Shopping Center Giant DLC Raises Institutional Capital to Take Advantage of Market Dislocation


DLC, one of the country’s largest private owners, operators, and managers of open-air retail, has raised institutional capital through a strategic commitment of growth capital from Temerity Strategic Partners (TSP). This will enable DLC to take advantage of the current market dislocation and capitalize a robust pipeline of acquisitions, it was announced today. 

The announcement comes on the heels of DLC closing a $100 million acquisition of four open-air shopping centers across the United States last week at a time, when transactional activity in the retail space is at a record low. Earlier this year, DLC closed on the $46.5 million acquisition of Brookside Center, an hour’s drive from New York City in Bridgeport, CT.

Adam Ifshin, CEO, founded DLC more than three decades ago, and he says the capital infusion will drive the firm to grow materially while doing what they do best: unlocking value in retail real estate. 

“We are all-in on playing offense: we buy when nobody else buys, and we are able to sell in a market when most investors are sitting on the sidelines,” said Ifshin. “We know from every cycle we’ve weathered in the 32 years since I started DLC that the best time to buy is at the bottom, when the market is coming through a period of significant disruption. And that’s why we’ve proactively raised this capital now, to enable us to grow our assets by $2 billion and lean into what we believe will be an outstanding vintage of acquisitions. This is the time to be aggressive, and we’re leading the charge.”

Bruce Cohen, co-founder and CEO of TSP, said, “We are excited to partner with Adam and the entire DLC team. We believe DLC is a great fit for our capital as they have a proven ability to execute in a sector that has long been out of favor with institutional capital. Open-air retail has proven resilient, and we believe investment dollars will start to rotate back into the space. DLC has attracted a robust stable of sophisticated institutional capital and we hope that Temerity Strategic’s capital, relationships, and resources will help DLC take advantage of this opportunity.”

About DLC: DLC is one of the nation’s preeminent private retail real estate companies, with expertise in acquisitions, development, architecture, leasing and management. Headquartered in Metro New York, DLC has regional operations in Atlanta, Buffalo, Chicago, Dallas, and Washington, D.C. For additional information about DLC and its portfolio, please visit

About Temerity Strategic Partners: Temerity Strategic Partners is a Chicago-based private equity firm with a focused strategy of providing growth capital to real estate operating, development, and asset management companies on behalf of its principals and a distinguished group of private and institutional investors. TSP provides growth capital, strategic resources and access to its extensive relationships to support rapidly growing, market-leading real estate owners and operators executing development, value-add and core-plus strategies throughout the United States. Founded by industry veterans Bruce Cohen and Jeff Citrin, TSP leverages its experience in building, capitalizing and investing in preeminent real estate operating platforms to support the pursuit of their long-term objectives. For additional information, please visit


Contact Information:
Holly Amaya
[email protected]
(619) 573-7224

Michael St. John
Vice President, Marketing
[email protected]

Original Source: Shopping Center Giant DLC Raises Institutional Capital to Take Advantage of Market Dislocation

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