(For more retail coverage, click GlobeSt.com/RETAIL.)
HOUSTON-Levcor Inc. and CalSTRS have bought the 227,000-sfHedwig Village as the first piece for a $350-million to$400-million portfolio. The JV plans to target the South, with afocus on Texas, for the retail-only buying spree.
LevCal LLC's first deal was leveraged with a loan of nearly $34million to acquire the 18-acre shopping center at 9425 KatyFreeway. The JV got a 10-year, fixed-rate loan from Bank of AmericaCorp. in Charlotte, NC to kick off the play.
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