CONSHOHOCKEN, PA — CenterSquare Investment Management and funds managed by Hamilton Lane (Nasdaq: HLNE) have completed a recapitalization of Tenaya Village, a retail shopping center in suburban Las Vegas, with Hamilton Lane becoming the majority investor, the companies announced.
The approximately 50,000-square-foot property, consisting of five buildings, has been owned by CenterSquare since 2022, which will retain a minority stake following the transaction.
Tenaya Village is located in an infill area near a major highway intersection, which has contributed to tenant demand and rent growth, according to the companies.
The deal represents a GP-led secondary investment for Hamilton Lane and reflects its focus on retail properties serving essential services.
“We hold strong conviction not only in the ESR niche, but also in the CenterSquare team and their capacity to enhance Tenaya Village’s long-term performance through disciplined property management and active leasing efforts,” said Elizabeth Bell, co-head of real estate at Hamilton Lane.
CenterSquare said the transaction highlights continued investor interest in essential service retail properties.
“Support from Hamilton Lane … demonstrates the ongoing opportunity in the retail sector,” said Rob Holuba, co-chief investment officer at CenterSquare.
CenterSquare manages more than 80 shopping centers totaling over $1 billion in assets nationally, while the firm reported $14 billion in assets under management as of December 2025.
Hamilton Lane reported $1.0 trillion in assets under management and supervision as of December 31, 2025, including $146.1 billion in discretionary assets.
The companies did not disclose financial terms of the transaction.
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