PLAYA VISTA, CA—A foreign investor has acquiredthe Shops at Concert Park, a two-propertyretail center, from an affiliateBrookfield Office Properties for $16.9 million,GlobeSt.com reports in this exclusive story. The property is 100%leased, and all leases are triple-net.

The foreign investor purchased with a $10.8-million CMBSloan at a 65% loan-to-value. The loan has a 10-yearfixed-interest rate at 4.9%. Sharone Sabar, VP ofcapital markets in Marcus & Millichap CapitalCorp. secured the financing on behalf of the buyer. In theacquisition transaction, Brandon Michaels, VP ofinvestments in Marcus & Millichap's Encinooffice, and Janette Monfared, an associate inMarcus & Millichap's Encino office, represented the seller.Marcus & Millichap did not respond to a request for comment.

The retail center properties in the portfolio are the11,828-square-foot Pacific Promenade and the10,907-square-foot Seabluff Drive. The propertiesare located on the ground floor of a mixed-use complex with a totalof 358 condominium units. Both properties were built in 2005, andmost of the retail occupants have leased space atthe property since it opened. Tenants at the Pacific Promenadeinclude Bank of America, CoffeeBean and local tenants, like Yoga Vistaand Hollyway Cleaners; and tenants at SeabluffDrive include Coldwell Banker, McClintock DentalGroup and Pinkberry.