Built in 1994 by Lewis Homes, the shopping center stands at110270-11090 Foothill Blvd. Rancho Town Center acquired the assetthis past February and has since been selling off individualparcels to separate investors. Barnes & Noble and Office Maxcurrently occupy the portion that has been purchased by Sindici. Hewas represented by Jon Busse of Colliers International in thetransaction.

Sindici raised part of the funds for the retail acquisitionthrough the sale of two multifamily assets. He sold one property,known as the Arroyo Villas complex, as general partner ofBurlingame West this past April. The 36-unit apartment community,which is located at 1060 Vale Terrace in Vista, sold for $3.8million. The other asset, known as The Downs apartments, justrecently traded hands for $3.4 million. Sindici, as general partnerof San Luis Rey Partners, unloaded the property to buyer G5Enterprises, which plans to convert the projects 30 apartment unitsinto condominiums. Busse represented both G5 Enterprises and SanLuis Rey Partners in the transaction.

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