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MALIBU, CA-American Commercial Equities, a firm founded in 2005 by B. Wayne Hughes Jr., has acquired five retail centers in Los Angeles and two in Honolulu, according to Marvin Lotz, president of the firm. Specific terms of the deals were not disclosed, but American Commercial says that the all-cash transactions represented an aggregate investment valued in excess of $200 million.

The five Los Angeles area properties acquired by the private investment company include 8424-8430 Melrose Ave., 5420-5450 Sunset Blvd., 23-931 Montana Ave. in Santa Monica, 368 N. Camden Dr./9528-9548 Brighton Way in Beverly Hills and 8900-8914 Santa Monica Blvd. in West Hollywood.Lotz says that the new acquisitions follow the American Commercial strategy of investing in “class A retail locations in prime commercial districts throughout Southern California and Hawaii” as the firm seeks to build its assets for both near- and long-term.

The company’s first-ever purchases in Hawaii include the 62,000-sf Aina Haina Community Shopping Center located at 820, 830 and 850 Hind Dr. in Honolulu. American Commercial plans a renovation of the busy retail center, which is anchored by a Foodland Supermarket. The company also acquired 1958 Kalakaua Ave., considered the gateway to Waikiki, and is planning to add more retail space to the surrounding area.

Separately, brokers from GVA Charles Dunn report that American Commercial has acquired the 88,500-sf Japanese Village Plaza shopping center at 335 E. Second St. in Downtown Los Angeles for more than $40.7 million. American Commercial was represented by David J. Ickovics, managing director of GVA Charles Dunn’s investment services group, with seller JVP Investments Inc. represented by Charles DeSantis, senior managing director of Dunn’s commercial properties group.

The two-story Japanese Village complex, with a pedestrian walkway through its center, is located in the Little Tokyo district of Downtown L.A. and is a landmark shopping center for the local Japanese community, Ickovics notes. He says that American Commercial plans capital improvements at the property, which includes office space on the second floor.

American Commercial’s portfolio now consists of more than 60 retail and mixed-use properties totaling in excess of 670,000 sf. In addition to the Los Angeles and Honolulu properties, the company owns assets from San Diego to Paso Robles.

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