Rainier, CIL2 Acquire 380,600-Square-Foot Power Center in Texas

Corpus Christi, Texas — Rainier Realty Investments LP, an affiliate of Dallas-based The Rainier Cos., has acquired Moore Plaza, a 380,600-square-foot power center in Corpus Christi.

CIL2 LLC, an institutional investment platform managed by Continuum Investments Ltd. also acquired an undisclosed share of the property via a joint venture with Rainier. The Class A center was 99 percent leased at the time of sale to retailers such as Hobby Lobby, Stein Mart, Office Depot/Office Max, Old Navy and Party City. Metropolitan Capital Advisors arranged a acquisition financing for the transaction.