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JACKSONVILLE, FL-A client of Invesco has acquired a five-property retail portfolio with a total of 347,478 sf from investors advised by Prudential Real Estate Investors. All five assets are in Florida.

The properties in the portfolio included the 67,528-sf Deerwood Lake Commons on Southside Boulevard at Touchtone Road in Jacksonville; the 71,352-sf St. Johns Commons on County Road 210 west of Interstate 95 in St. John County; the 79,590-sf Heath Brook Commons on State Road 200 at Tartan Road in Ocala; the 58,537-sf Westcreek Commons on Hillsboro Boulevard at Lyons Road in Coconut Creek; and the 70,471-sf Park View Square on Miramar Parkway at Southwest 172nd Avenue in Miramar. The acquisition price was not released.

Deerwood Lake Commons, Heath Brook Commons and Westcreek Commons are anchored by a Publix supermarket. St. Johns Commons and Park View Square are anchored by a Winn-Dixie. The occupancy for the portfolio at the time of the sale was 96.8%.

CB Richard Ellis senior vice president Casey Rosen, senior vice president Dennis Carson, and financial analyst Andrea Stava represented the sellers. Rosen tells GlobeSt.com that the seller has a three- to seven-year time frame for holding assets and decided it was time to sell the portfolio. “They had achieved what they wanted out of the properties,” Rosen says. “The buyer was able to amass a diverse portfolio of high-quality assets.”

Rosen says the properties are in good condition and do not require any major capital improvements at this time. The buyer intends to hold the shopping centers on a long-term basis.

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