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SAN DIEGO-As part of its ongoing liquidation, Burnham Pacific Properties Inc. has sold Olympiad Plaza in Mission Viejo to a joint-venture partnership in a deal valued at $11.8 million.

San Diego-based Burnham sold its approximately 45,600-sf interest in the center to Cleveland-based Retail Value Investment Program, a joint venture comprised of Developers Diversified Realty, Coventry Real Estate Partners and Prudential Real Estate Investors.

The Retail Value partnership has purchased a substantial part of Burnham’s portfolio, including 15 shopping centers with a combined 3.5 million sf for $355 million, a deal announced last year.

Developers Diversified Realty owns and manages more than 240 shopping centers in 41 states totaling more than 58 million sf.

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