Los Angeles-based Primestor Development has acquired Hilltop Plaza, a 246K SF strip mall in Richmond, for $36.5M.

Primestor, which develops, manages and leases community-oriented projects with a focus on underserved minority communities, has invested more than $1B in urban, mixed-use real estate.

"Hilltop Plaza represents the opportunity to acquire a strategic infill project that aligns with our investment strategy of empowering communities through the acquisition and management of institutional quality real estate," said Lonnie Vidaurri, Primestor chief investment officer, in a statement.

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