San Jose, Calif. — DJM Capital, through a joint venture with affiliates of Fortress Investment Group, has acquired a four-property, grocery-anchored portfolio totaling 488,000 square feet of retail space across California. Merlone Geier sold the portfolio. Chris Hoffmann of Eastdil Secured brokered the transaction. Bank of America served as lender and Brian Ley of JLL acted as equity intermediary. The portfolio includes: Magnolia & Adams, a 68,000-square-foot property at 9062 Adams Ave. in Huntington Beach, California; Magnolia & Warner, a 62,000-square-foot center at 17070 Magnolia St. in Fountain Valley, California; Poway Town Center, a 101,000-square-foot property at 12342 Poway Road in Poway, California; and Deer Creek Village, a 257,000-square-foot property at 429 N. McDowell Blvd. in Petaluma, California.
DJM Capital Buys Four Grocery-Anchored Properties in California Totaling 488,000 Square Feet