Tampa, FL – July 29, 2013 – CBRE arranged the sale of a 175,000-square-foot shopping center in Yulee, Florida, to Canadian real estate investment trust H&R REIT for $20,905,000. The Villages of Amelia shopping center, located on State Road 200, is anchored by Publix, Kohl's, TJ Maxx, Ross Dress for Less and Jo-Ann Fabrics. CBRE represented both the buyer and the seller in the transaction.
“This transaction was unique from the outset. Sourcing low yield equity of $4 million and a construction loan of $13 million was the key to this transaction’s success,” said Donald Jennewein, Senior Vice President in CBRE’s Tampa office.
Based in Tampa, CBRE Senior Vice President Donald Jennewein was joined by partners Senior Vice President Michael Strober and Assistant Vice President Amanda Valenti in arranging the sale.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2012 revenue). The Company has approximately 37,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 300 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our Web site at www.cbre.com.