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WHITE PLAINS-Bloomingdale Road Investors LLC, an entitycontrolled by UBS Realty Investors LLC, has acquired the Source atWhite Plains here for $153 million. R Squared LLC of New York City,which built the shopping center for $96 million, was theseller.

The first dirt was turned on development almost three years agoand its anchor Fortunoff opened its doors two years ago this month.The Source was built on the site of a former Saks Fifth Avenuedepartment store. R Squared, which is headed by members of theRechler family that founded Reckson Associates Realty Corp.,developed the property in partnership with the Fortunoff family andEdge Partners. Although members of the Fortunoff family had aninvestment interest in the development, the 180,000-sf store isoperating on a long-term lease.

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John Jordan

John Jordan is a veteran journalist with 36 years of print and digital media experience.