PALM BEACH, FL—Jupiter Reserve, a 43,172-square-footneighborhood shopping center in Jupiter, FL, hastraded hands. Elion Real Estate Fund III, thelatest fund raised and advised by Elion Partners,acquired the retail asset. Financial terms of thedeal were not disclosed.

Jupiter Reserve fit with the fund's strategy to acquirestabilized assets with significant cash flow while providing anopportunity for value enhancement, according to Elion managingpartner Juan DeAngulo. The deal was sourcedoff-market through Atlantic Retail Properties,which represented both parties in the transaction.

“The opportunity to acquire a seasoned shoppingcenter with upside potential amid a dominant retail nodemade Jupiter Reserve an attractive opportunity,” says DeAngulo.“With significant barriers to entry due to the lack of developableland, Jupiter is an excellent market for these kinds of investmentopportunities, and Elion allows our investors to take advantage ofthem quickly and efficiently.”