Florida & Gulf Coast CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Rainier Claims Tampa Bay Retail Center for South African JV
Rainier Realty Investments LP acquired Woodlands Square, a 315,000-square-foot Class A regional retail power center in Oldsmar, FL from RAM Realty Advisors for $64 million. Dallas-based Metropolitan Capital Advisors arranged financing.
The 96% occupied property north of Tampa Bay includes a diverse roster of national retailers, including Beall’s, PetSmart, Marshall’s, Dollar Tree, Ulta Cosmetics, Earth Fare and AMC, which recently received a $7 million makeover.
Rainier’s Tim Nichols says, “Woodlands Square is an exceptional retail property in a prime location with frontage on Tampa Road and Curlew Road.” He notes Rainer has assembled a 2.5-square-foot retail portfolio.
.
Rainier partnered with institutional investor CIL2 REIT LLC, managed by Continuum Investments LLC, to purchase the property. It is the JV’s fifth retail acquisition in the past 18 months. CIL2 has institutional support from the publicly-traded South African REIT, Emira Property Fund.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

