ORLANDO—Savvy investors are starting to see the fruits of their distressed asset investments. A Continental Properties Acquisition Corporation (CPAC) entity just sold a once-distressed 25,000-square-foot shopping center.
Located in the heart of Clermont just outside Orlando, the CPAC affiliate sold Hancock Village Shopping Center for $4.25 million. The firm acquired the retail asset in May of 2011 for $2.1 million.
“This transaction validates our investment strategy of acquiring distressed assets and creating value through strong, hands-on management and a sound retail leasing strategy,” says David Moret, principal of CPAC. The sale price represents a 98% gain over the acquisition price in just over three years.
Continue Reading for Free
Register and gain access to:
- 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
© 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.
