SUNRISE, FL-Global Fund Investments and MMG Equity Partners have acquired the title to the Village Shoppes at Pine Plaza, a 234,169-square-foot shopping center in Sunrise. The investors bought the notes from Compass Bank for an undisclosed amount after foreclosing on the property.

The transaction is the largest recent shopping center foreclosure to occur in South Florida. SCP-Capri, an affiliate of Stiles Capital Partners, acquired The Village Shoppes at Pine Plaza for $24 million in 2007. Compass Bank filed a $17.3 million foreclosure lawsuit against SCP-Capri in December 2009.

Located at 4151 and 4121 N. Pine Island Rd., the shopping center is anchored by Winn-Dixie Supermarket, Sunrise Cinemas, and Family Dollar. The shopping center was close to 100 percent occupied before Hurricane Wilma, which damaged the property. The shopping center has since been repaired but did not recover its tenant base after the storm. It is only 65% occupied.