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SITE Centers Sells Off Expansive Orlando Retail Center
SITE Centers Corp. (NYSE: SITC) sold Winter Garden Village (Orlando, FL) for $165.0 million. The 1.16 million-square-foot retail center has major tenants including Bealls, Best Buy, Burlington, LA Fitness, Market by Macy’s, Marshalls, Ross Dress for Less, Staples and Target. Built in 2007, it last traded hands for $196 million in 2013, and for $180.4 million in 2008,
The Orlando Business Journal reports the buyer is an LLC affiliated with DWS Group’s RREEF Property Trust. DWS is a publicly traded spin-off of Deutsche Bank.
SITE Centers says in a press release that a portion of the net proceeds was used to repay $22.3 million of mortgage debt.
SITE Centers’ website states that its portfolio comprises open-air properties located primarily in suburban, high-income communities in the United States. The company has 28 sites listed on its website.
- ◦Sale/Acquisition
