Los Angeles – Locally based Caruso Affiliated Holdings and locally based INVESCO Realty Advisors partnered in a new venture to acquire community retail centers throughout California. INVESCO’s clients are contributing $100 million to the venture allowing the Caruso team to acquire $300 million of community retail centers in mature and growing markets.

“The softening economy may offer some opportunities to make strategic acquisitions in the retail sector. Sales at traditional, grocery-anchored centers remain strong, but we anticipate some weakness in the market creating good values,” said Rick J. Caruso, CEO of Caruso Affiliated Holdings.