Cohen Financial secured $162 million in construction financing for Legendary Inc.'s Emerald Grande at HarborWalk Village in Destin, Fla. The project will include 281 condos, a parking garage and 200,000-square-foot of retail.
Owings Mill, Md.-based retail and mixed-use developer Greenberg Commercial Corp. changed its name to Greenberg Gibbons Commercial Corp. The company said the new name reflects the “increased role and influence” of Brian Gibbons, who has served as president and CEO since 1999.
Los Angeles-based SCI Real Estate Investment bought the 205,818-square-foot Price Plaza Shopping Center in Katy, Tex., for $37.6 million in a tenant-in-common 1031 exchange. The center includes Best Buy, Babies “R” Us and Party City.
Kimco Realty Corp. purchased Maryland-based Atlantic Realty Trust for $82.5 million. Atlantic was formed to liquidate properties and other assets from Ramco-Gershenson Properties Trust and currently only owns the Hylan Plaza Shopping Center in Staten Island, N.Y.
Pine Tree Commercial Realty LLC has is expanding west with the purchase of a 28-acre site in Montrose, Colo. for a future shopping center. The property was purchased in a joint venture with Meritage Development Group of Aspen, Colo.
Thor Equities LLC purchased the 638,000--square-foot Cheltenham Square shopping center in Philadelphia from Simon Property Group Inc. for $71.5 million. The center is anchored by Burlington Coat Factory, Value City and Home Depot. Real estate investment banking firm Holliday Fenoglio Fowler LP represented Simon.
Raymond Arjmand purchased the 550,000-square-foot County Fair Fashion Mall in Woodland, Calif.. from Triple Net Commercial Properties for an undisclosed amount. The mall is anchored by JCPenney, Gottschalk's and Target.
Irvine, Calif.-based Fremont Investment & Loan provided a $51.5 million loan to a Sudberry Properties' affiliate for the land acquisition and development of a retail project in Eastlake near San Diego. The land is zoned for about 157,000 square feet of retail and pre-leased tenants include Petco and Trader Joes.
Westwood Financial Corp. purchased the 258,000-square-foot San Ysidro Village in San Ysidro, Calif., for $42.5 million from a partnership consisting of Developers Diversified Realty, Prudential Real Estate Investors and Coventry Real Estate. Tenants include Kmart, Ross Dress for Less and Marshalls.
REIT Saul Centers Inc. purchased two Publix-anchored shopping centers in Florida for a total of about $40 million. The company purchased the 96,400-square-foot Jamestown Place in Altamonte Springs for $14.8 million. It also bought the 146,700-square-foot Seabreeze Plaza in Palm Harbor for $25.8 million.