ENGLEWOOD—Bon Avivpartnered with Zamias Services of Jamestown, Pa. to acquire five shopping centers from Kimco Realty Corporation for $68 million.
The portfolio totals 837,183 sq. ft. Wiss’ Real Estate Consulting Services Group advisory staff, under the direction of Joseph Ottaiano, functioned as part of the client’s acquisition team on a transaction that began in December 2011 and closed in late March 2012.
The team navigated changing tenant dynamics regarding rent relief, expense recoveries and collections. Wiss monitored these conditions throughout the diligence period and assisted the client in procuring necessary cash flow projection. Doing so eliminated one property from the buying decision; prices were reduced on others.