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Kobalt Acquires 100K-SF SA Retail Center
Ziff Real Estate Partners (ZRP) has sold Castle Hills Market, a 97,682-square-foot neighborhood shopping center in San Antonio. Kobalt Investment Co. purchased the asset with a $11.7 million loan provided by Woodforest National Bank. It’s located on 6.7 acres at 2211 NW Military Highway.
Commercial Edge reports ZRP purchased the shopping center back in 2020. Two years later, the property became subject to an $8.6 million loan provided by Randolph-Brooks Federal Credit Union, CommercialEdge data shows.
Castle Hills Market came online in 1986. Since its purchase four years ago, the previous owner enhanced the center through physical property improvements, leasing strategies and tenant upgrades.
The JLL team of John Indelli, Whitney Snell, Chris Gerard and Ryan West brokered the deal.
Back in April, ZRP entered the Arizona retail market with the purchase of Mercado at Scottsdale Ranch, a 118,751-square-foot shopping center in Scottsdale, Ariz., for $26.5 million.
- ◦Sale/Acquisition
