Joint venture acquires greater Cleveland center

NEW YORK — Hornig Capital Partners, a privately held New York City-based investment company, has combined in a joint venture with Hutensky Capital Partners of Hartford, Conn. to acquire the Golden Gate Shopping Center in Mayfield Heights, Ohio, in the greater Cleveland region. The joint venture purchased the property from Forest City Enterprises for $47,050,000, together with B&D Holdings, making it one of the largest single asset retail deals in the region during the past 24 months.

Anchored by Marshalls, PetSmart, Golf Galaxy, h.h. gregg, OfficeMax and Jo-Ann Fabrics, the 371,748-sq.-ft. Golden Gate is located in a high-volume retail corridor.

Built in 1958, the center was renovated in 1995.

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