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SACRAMENTO-Doerken Properties has added three Sacramento-arearetail centers to its core portfolio. The Santa Monica, CA-basedshopping center investor used a financing package that covered 95%of the cost to acquire and reposition the 343,170-sf package, whichwas acquired for $64.4 million. The seller was Kimco Realty Corp.Acquisition financing was arranged by Los Angeles-based GeorgeSmith Partners.

In the largest transaction, Doerken acquired CommonwealthSquare, a 141,310-sf neighborhood shopping center on a 14-acre lotin Folsom, CA. The property is located at 703 East Bidwell Streetand is anchored by Raley's Supermarket. Additional tenants includeHollywood Video, Century 21, Mail Boxes Etc., Papa Murphy's, MyGym, Jiffy Lube and H&R Block. The property is 97.5% occupied.Financing for the acquisition totaled $37.1 million, including a$33.2-million, five-year, non-recourse, 85% loan-to-cost,interest-only senior loan at 140 basis points over the 10-yearTreasury, and additional mezzanine financing.