The 158,463-square-foot grocery-anchored shopping center in Broward County is located approximately 12 miles southwest of Downtown Fort Lauderdale and was 99% leased at the time of sale.

Terra Capital has provided Miami-based alternative investment management firm CGI Merchant Group with a $57-million bridge loan to facilitate the recapitalization of the mixed-use property and what the ownership terms as a “ramp up” of a newly flagged hotel at the property.

This summer work will commence on phase one that will involve an approximate 9,000-square-foot freestanding building for Kiddie Academy and a nearly 4,500-square-foot single-tenant building, which is available for lease.

"With a solid pipeline of active tenant requirements, we expect leasing totals to pick up later in the year,” says Nicole LaRusso, director of Research & Analysis for CBRE Tri-State.

Chicago-based executive managing directors Craig Cassell and Michael Sessa will lead Cushman & Wakefield's S&E Advisory Group and will be responsible for managing the firm's overall strategic approach to sports and entertainment related client services.

First Washington reports that effective immediately, the asset will be rebranded and named Eden Prairie Village Shopping Center as a tribute to the local community.

Zom Living of Orlando and the Moinian Group of New York City acquired the project site located one block from Biscayne Boulevard from Miami Worldcenter Associates, the developer of the $4-billion mixed-use project being developed on 27 acres that is now under construction.

Witten has closed more than $12 billion in multifamily sales. Prior to his appointment at Aimco, Witten served the last 20 years with Marcus & Millichap.