Konover South buys back Florida retail portfolio

Deerfield Beach, Fla. — Konover South has bought back a portfolio of nine Florida retail shopping centers valued at more than $100 million. Konover had previously sold a share of the portfolio to an institutional investment partner. The buy-back returns complete ownership to Konover, which developed or redeveloped the properties over the years.

Peoples United Bank provided $75 million of new permanent financing for the transaction.

Consisting of prime core-plus and value-add properties with anchors such as Publix, Winn-Dixie and TJ Maxx, the portfolio includes Admirals Crossing in Jupiter, Governors Crossing in Tallahassee, Inverrary Falls in Lauderhill, Kendall Square and Kendall Square Office in Miami, Plaza at Davie in Davie, Point Meadows in Jacksonville, Stuart Centre in Stuart and Sunrise Plaza in Sunrise.

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