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EUSTIS, FL-DIM Vastgoed NV, a publicly traded Dutch real estate fund no stranger to the Southeast investment community, has entered the Central Florida market with the $17.2-million acquisition of three-year-old, 136,927-sf, 99%-leased Eustis Village shopping center in Lake County, 35 miles northwest of Downtown Orlando.

DIM Vastgoed paid seller Eustis Village LLC $125.61 per sf, a price local retail brokers tell GlobeSt.com is slightly above the estimated replacement cost of a comparable new property. DBR Asset Management LLC of Fort Lauderdale found the property for the Dutch fund, negotiated the purchase contract with the seller and completed the due diligence process of the deal.

"DIM Vastgoed is committed to acquiring properties that are primed for growth and expansion," says A.J. Belt, chief operating officer of DBR Asset Management which has represented the fund in all of its Southeast acquisitions to date. "We believe that Eustis Village is one of these areas and we look forward to acquiring more properties in the Orlando area."

A 55,000-sf Beall's Department Store and a 44,271-sf Publix Supermarket anchor Eustis Village facing US 441 North and David Walker Drive. Cummings, Horsely & Maddox Inc. and Wilson & Nolan Southeast Inc. represented the seller.

Instant Insights /

Eustis Village Shopping Center Changes Hands for $17M

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