CBRE CAPITAL MARKETS ARRANGES FINANCING FOR TRANSACTIONMIAMI, FL– Oct. 2, 2008 – CB Richard Ellis, the world's leading commercial real estate services provider, arranged the sale of Winter Garden Village, (top right photo) a 1.14 million-sq.-ft. regional shopping center located at the interchange of Orlando's Western Beltway (State Road 429) and Winter Garden Vineland Road (State Road 535) in Winter Garden, Fla.
The area included in the sale totaled 759,459 sq. ft. of leasable
area.
Dennis Carson, (top left photo) senior vice president with CB Richard Ellis' Miami-Downtown office, and George Good, (middle right photo) executive vice president with the Oakbrook, Ill., office of CB Richard Ellis, exclusively represented the seller, an affiliate of The Sembler Company, headquartered in St. Petersburg, Fla.
area.Dennis Carson, (top left photo) senior vice president with CB Richard Ellis' Miami-Downtown office, and George Good, (middle right photo) executive vice president with the Oakbrook, Ill., office of CB Richard Ellis, exclusively represented the seller, an affiliate of The Sembler Company, headquartered in St. Petersburg, Fla.
An affiliate of Cole Real Estate Investments, based in Phoenix, Ariz., was the buyer. Michael Strober, (bottom left photo) senior vice president, with the Tam
pa office of CBRE Capital Markets, arranged acquisition financing for this transaction from Northwestern Mutual.
"Winter Garden Village is among the highest quality, and best-located mixed-use regional power and lifestyle retail centers developed in the nation," Mr. Carson said.
pa office of CBRE Capital Markets, arranged acquisition financing for this transaction from Northwestern Mutual."Winter Garden Village is among the highest quality, and best-located mixed-use regional power and lifestyle retail centers developed in the nation," Mr. Carson said.
"And the role of CBREMelody in arranging financing for this deal was absolutely critical to the success of the transaction - especially in light of the nation's ongoing credit crunch, and its disproportionate impact on all sectors of the real estate business."
Completed
in phases between 2007 and 2008, the project encompasses more than 161 acres and is home to 16 anchor tenants, including SuperTarget, Lowes Home Improvement, Best Buy, Barnes & Noble, Marshalls and Staples.
Completed
in phases between 2007 and 2008, the project encompasses more than 161 acres and is home to 16 anchor tenants, including SuperTarget, Lowes Home Improvement, Best Buy, Barnes & Noble, Marshalls and Staples. The property also includes a 180,000-sq.-ft. lifestyle center that is home to tenants such as Victoria's Secret, Cacique, Lane Bryant, Chico's, Bonefish Grill and Jos A. Banks.
Areas not included as part of the sale were the SuperTarget and Lowe's Home Improvement stores, each of which are tenant owned, and a 25-acre tract reserved for future residential development.
Contact: Rebecca Thomas, 305.381.6485, rebecca.thomas@cbre.com
Contact: Rebecca Thomas, 305.381.6485, rebecca.thomas@cbre.com
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