TAMPA, FL—Commons at Twin, a 53,000-square-foot shopping center in Clearwater, FL, has a new owner. Commons at Twin Lakes Associates, LLC sold the retail center to Realty Financial Corporation for $8.4 million.

Jim Michalak of Plaza Advisors represented the buyer. Mike Milano, managing director of Retail Services and Rob Shultz, director of Retail Investment Services at Colliers International Tampa Bay, represented the seller in the transaction. Both buyer and seller are private equity firms.

“The center has a long history of high occupancy, attractive market rents and a stable tenant roster that was appealing to the capital markets” says Michalak. “The buyer was able to secure excellent long-term financing and locked-in an interest rate prior to the recent increase.”