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Temecula and Novato, Calif. — A real estate fund managed by Ares Management, in partnership with Citivest Commercial Investments LLC, has acquired two shopping centers located in Temecula and Novato, California.
Acquisitions include Downtown Novato Center, a 98,000-square-foot retail center anchored by Lucky Supermarket in the North Bay region of the San Francisco Bay area; and Temecula Town Center, a 241,980-square-foot Target shadow-anchored shopping center located in Temecula. Terms of the transaction were undisclosed.