San Diego — AGC SD Retail Holdings LLC, a joint venture between Citivest Commercial Investments LLC and Angelo, Gordon & Co., has acquired a nine-property retail portfolio in San Diego for $183.25 million.
The average occupancy rate of the more than 520,000-square-foot portfolio was 92 percent at the time of sale. Acquisitions include retail space within Pacific Coast Plaza and Town Center North in Oceanside; Palm Promenade and Stonecrest Plaza in San Diego; East County Square and East County Village in El Cajon; and Eastlake Terraces, Eastlake Village Center East and Southbay Marketplace in Chula Vista. Larry Weese, Dwight Belden, Dana Haynes and Jeff Peterson of Citivest worked in association with Mark Ferraro of TMC America LLC on the transaction. Flocke & Avoyer worked on behalf of the seller. Rob Cord of Voit Real Estate Services will manage the new portfolio.