Cypress, TX – December 15, 2025 – Equity Street Capital, in partnership with Big V Property Group and a fund managed by Principal Asset Management®, has acquired Fairfield Town Center in Cypress, Texas, within the Houston metropolitan area.
The acquisition marks Equity Street Capital’s continued expansion in high-growth Sunbelt markets and represents Big V Property Group’s first institutional joint venture and its first acquisition alongside a fund managed by Principal Asset Management®.
“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, along 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.”
Situated at the intersection of U.S. 290 and SH 99/The Grand Parkway, Fairfield Town Center encompasses approximately 355,000 square feet and is 99.5% occupied. The open-air, value-oriented retail destination features a best-in-class mix of retail, entertainment, and service tenants, including a luxury cinema, leading off-price retailers, beauty and apparel brands, and is anchored by top-performing grocery and sporting goods tenants.
“We’re excited to continue growing our Texas portfolio,” Paul Esajian of Equity Street Capital said. “Fairfield Town Center is an excellent center, located in growing areas, dominant, with healthy national anchors and the most-desired retailers and services in the area. We are proud to add to our portfolio.”
Fairfield Town Center is located within one of the fastest-growing trade areas in the United States. Since 2010, the population within a five-mile radius has grown by approximately 6% annually and now exceeds 122,000 residents. The area is supported by strong household fundamentals, including an average household income of approximately $168,000 and a median home value of $379,030, driving robust consumer spending and long-term demand.
The center ranks as the third most-visited retail destination in the Houston MSA, benefiting from traffic counts exceeding 187,000 vehicles per day. Nearby demand drivers include Houston Premium Outlets, which attracts approximately 4.6 million visits annually, and Memorial Hermann Cypress Hospital, which opened in 2017 and is currently undergoing expansion.
The acquisition further strengthens Equity Street Capital’s retail platform in Texas and aligns with the firm’s strategy of partnering with best-in-class operators to acquire dominant, necessity-driven retail assets in high-growth markets.
About Equity Street Capital: Equity Street Capital (ESC) is a San Diego-based commercial investment firm renowned for its focus on achieving attractive risk-adjusted returns while maximizing long-term capital appreciation. Founded by real estate investors and entrepreneurs Than Merrill and Paul Esajian, Equity Street Capital is dedicated to providing transformative real estate investment opportunities to it’s investors.
About Big V Property Group
Big V Property Group owns and operates over 50 neighborhood and community shopping centers totaling over 9.5 million square feet, primarily located in the southern region of the US. Big V Property Group is headquartered in Charlotte, NC with major offices in Murfreesboro, TN, San Antonio and Austin, TX, and Florida, NY.
