The Terraces acquired by joint venture
Washington, D.C. — Combined Properties and its joint venture partner Saban Capital Group have acquired The Terraces, a 173,000-sq.-ft. community shopping center in Rancho Palos Verdes, a suburb of Los Angeles. Spread across three terraced levels, center retailers include Trader Joe’s, Marshalls, LA Fitness and Starlight Cinemas.
The joint venture between Combined Properties and Saban Capital Group is assembling a $200 million portfolio of value-add retail centers in Southern California and the Washington, D.C., metro market.
Rosenfeld Realty Advisors to handle office and retail
Boca Raton, Fla. — Orin Rosenfeld has founded Rosenfeld Realty Advisors.
As president of the new firm, Rosenfeld will draw on 18 years of commercial real estate experience with CBRE and NAI Merin Hunter Codman. The company will specialize in office and retail real estate and will represent both landlords and tenants across South Florida.
Longview Plaza acquired by Morris-Floyd Capital
Fort Worth, Texas — The 15.5-acre Longview Plaza power center has been acquired by Morris-Floyd Capital Partners. Located in Longview, Texas, the property is 100% leased.
Anchors include Bed, Bath & Beyond, T.J. Maxx, Michael’s, Office Depot, Best Buy and Books-A-Million. Sperry Van Ness brokered the sale. Longview Plaza Ltd. was the seller.