RANCHO PALOS VERDES,CA-The Terraces, a 172,803-square-foot community shopping center located here in this wealthy community, has been sold. The price was $37 million, according to industry sources.

The buyer was Terraces LLC, a joint venture between Combined Properties and Saban Capital Group. Combined Properties owns and manages more than five million square feet of retail properties in Los Angeles and Washington DC, including the Lincoln & Rose Shopping Center in Venice, anchored by Whole Foods Markets.

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