Balfour Beatty Communities reports it will perform property management services at Ridgeland Place and will invest in a number of capital improvements at the property.

The sale consists of a contractual sales price of $185 million and the release of $3.5 million in member deposits. The total consideration represents approximately $521,000 per key, RLJ Lodging reports.

Free meeting spaces encourage tenants, shoppers and neighbors to see the local shopping center as part of the neighborhood.

The venture is currently seeking 10 or more top-tier firms or “co-founders” to facilitate OnMarketUSA's launch in other markets where it is forming local teams, including in New Jersey, in the New York City boroughs of the Bronx, Brooklyn and Queens, South Florida and in Philadelphia.