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."
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
