Oct
16
Ft. Lauderdale-Area Retail Center Changes Hands
ByDavid Donnellan and Patricia Friend of CBRE’s South Florida Retail Investment Properties team assisted the seller in the transaction. Florida Credit Union originated the acquisition financing.
CBRE brokered the sale of Regency Lakes Village Center, a multi-tenant, Class A shopping center in Coconut Creek, Fla. According to public records, Regency Lakes Village Center Partners LLC, an entity affiliated with Colorado-based ServiceStar Capital Management, sold the asset to Pacific Equities Capital Management.
The property traded in an $8.5 million deal and Florida Credit Union facilitated the transaction through $6.4 million in acquisition financing. Located at 6310 and 6370 N. State Road, Regency Lakes Village Center encompasses two buildings totaling 29,932 square feet. Completed between 2006 and 2007, the property sits on a 6.26-acre site and features a parking ratio of 4.8 spaces per 1,000 square feet…
