MISSION VIEJO, CA-Westport Capital Partners has acquired the220,000-square-foot Kaleidoscope Retail Center from the property'sspecial servicer, C-III Asset Management LLC (formerly known asCenterline) for $22 million in an all-cash transaction. DixieWalker, executive vice president in the Financial ServicesAsset Management Group at Grubb & Ellis Co. whorepresented both the buyer and the seller, tells GlobeSt.com thatthe sale was one of the first significant retail foreclosures inOrange County.

Walker, who also brokered the foreclosure sale of the300,000-square-foot South CoastHome Furnishings Centre in Costa Mesa last year, tellsGlobeSt.com that the Kaleidoscope sale was also unusual in that itwas contemplated first as a sale out of receivership, then a notesale, before finally becoming a foreclosure sale.

The property is a three-story center at 27741 Crown ValleyParkway at the intersection of Interstate 5 and Crown ValleyParkway. Completed in 1999 on nearly five acres, it is 62%leased.