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Big V Property Group JV Acquires Fairfield Town Center in Cypress, TX
The acquisition is the first institutional joint venture for the 80-year-old retail real estate owner/developer
CHARLOTTE, N.C. (December 15, 2025) —In its first institutional joint venture and its first acquisition with a fund managed by Principal Asset Management®, Big V Property Group has acquired Fairfield Town Center in Cypress, Texas (metro Houston).
“Combined with our own 80 years of history, Big V and Principal Asset Management each have a storied legacy of success in serving clients and communities,” said Eric Zimmermann, Chief Acquisitions Officer of Big V Property Group, who with Tony D’Ambrosio, Vice President of Acquisitions & Dispositions, oversaw the transaction. “This collaboration underscores our shared focus on creating value and delivering quality experiences for the people and places we serve.”
Located at U.S. 290 and SH 99/the Grand Parkway, the 355,000-square-foot, value-oriented Fairfield Town Center is 99.5% occupied. The open-air center boasts a best-in-class tenant mix of retail, entertainment and services, including a luxury cinema, popular off-price retailers, beauty and apparel brands, and is complemented by leading grocery and sporting goods anchors.
“We’re excited to add this to our growing Texas portfolio, now six centers strong,” D’Ambrosio said. “Fairfield Town Center exemplifies the type of property Big V builds, acquires and redevelops — well-located in growing areas, dominant, with healthy anchors and the most-desired retailers and services. This is a trophy asset, which we are proud to add to our portfolio.”
“Big V’s longstanding presence in the Sunbelt and its comprehensive real estate capabilities were major draws for Principal Asset Management,” said Kyle Donnelly, Director of Acquisitions/Dispositions at Principal Asset Management. “Their deep retail expertise and vertically integrated platform, spanning innovative leasing, strategic development, construction, legal, marketing, operations, and more, were key factors in our decision.”
Fairfield Town Center is positioned within one of the country’s fastest-growing trade areas, where the population within a five-mile radius has increased by approximately 6% annually since 2010. The area now boasts more than 122,000 residents, supported by an average household income of roughly $168,000 and a median home value of $379,030. These strong demographic fundamentals translate to exceptional consumer purchasing power and continued momentum for the Fairfield Town Center trade area.
Fairfield Town Center is the third most-visited retail center in the Houston MSA. More than 187,000 vehicles pass the center daily. Nearby are the Houston Premium Outlets, which sees 4.6 million visits per year, and Memorial Hermann Cypress Hospital, opened in 2017 and now being expanded.
The acquisition is Big V Property Group’s second in the Houston area and continues its growth in Texas. In addition, Big V, with partner The Seitz Group, recently broke ground on Rosamond Crossing, a new, 175,300-square-foot, open-air center to be anchored by Kroger Marketplace in Anna, Texas, northeast of Dallas.
About Big V Property Group
Big V Property Group (Big V) is a family-owned leader in retail real estate with an 80-year history of serving communities and creating superior value for investors. We own, operate, and develop premier retail properties in growing and thriving Sunbelt communities across 14 states. Our 50+ neighborhood community and shopping centers are at the heart of retail districts in high-growth demographic markets, occupying a total of 9.5 million square feet. This careful selection has led to record-high occupancy rates, as our prime locations drive significant business for our tenants, enhance returns for investors, and support vibrant community activity. We are headquartered in Charlotte, NC with major offices in Murfreesboro, TN, San Antonio and Austin, TX, and Florida, NY. For further information, please visit bigv.com.
About Principal Asset Management®
With public and private market capabilities across all asset classes, Principal Asset Management and its investment specialists look at asset management through a different lens, creating solutions to help deliver client investment objectives. By applying local insights with global perspectives, Principal Asset Management identifies distinct and compelling investment opportunities for more than 1,100 institutional clients in over 80 markets.1 Principal Asset Management is the global investment solutions business for Principal Financial Group® (Nasdaq: PFG), managing $601.6 billion in assets1 and recognized as a “Best Places to Work in Money Management”2 for 14 consecutive years.Learn more at www.PrincipalAM.com
[1] As of September 30, 2025
[2] Pensions & Investments, “The Best Places to Work in Money Management”, among companies with 1,000 or more employees, December 2025.
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Debra Hazel
(201) 618-5247
debra@debrahazelcommunications.com
