The properties are located in Columbia, SC; Birmingham, AL; Wichita, KS; Fort Worth and Dallas. Lehman acquired the shopping centers through foreclosure. Locally based Rockwood Realty Associates represented Lehman in the transaction.
"Our client benefited from an ability to capitalize upon the continuing, strong market demand for retail properties," says Rockwood president Daniel J. McNulty.
"This acquisition represents a continuation of our strategy to acquire value-added real estate assets in partnership with Developers Diversified," notes Coventry president Peter Henkel. "We look forward to identifying additional opportunities like this one, capitalizing on the track record we have developed and the successful platform we have created for this investment strategy."
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