National Commercial Real Estate News From CoStar Group
PREI Trades Peninsula Center for $87.3 Million
Principal Real Estate Investors sold Peninsula Center, a 274,257-square-foot shopping center in Rolling Hills Estates, CA, for $87.3 million or $318 per square foot. Vestar purchased the property in a joint venture with a fund advised by UBS Global Asset Management.
The partnership acquired the complex because of its stable cash flow and top tier demographics in the affluent area of the Palos Verdes Peninsula.
“Peninsula Center provides us with...