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Combined, Heitman in JV

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Combined Properties, Inc. has announced a joint venture with Chicago-based Heitman. The venture will seek to acquire up to approximately $200 million of institutional grade shopping centers in the Washington, D.C. and southern California metropolitan areas. Combined Properties already has a strong presence in both marketplaces, and it will manage the joint venture on a day-to-day basis as well as manage and lease each retail property acquired.

Heitman earlier this week also had activity in a previously-announced joint venture with REIT Ramco-Gershenson Property Trust. The joint venture acquired two centers for $52.9 million.

Combined Properties seeded the joint venture with Charles County Plaza, a recently renovated and expanded 142,500 square foot shopping center located in Waldorf, Maryland anchored by a 71,500 square foot Giant Food store, Linens 'N Things and Pier One. The firm leverages its in-house expertise in leasing and asset management to enhance the value of its holdings which benefits the local community and fund investors.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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