Community Reinvestment Partners II, a joint venture between Forge Capital Partners and DeBartolo Development, acquired Fairway Oaks in Hudson, Fla., from Case Pomeroy Properties for $7.6 million. The 79,000-square-foot center is anchored by Publix.
Simon Property Group, unhampered by the credit troubles that plague some other U.S. real estate investors, is preparing for a line of international shopping center acquisitions, according to some analysts. Continuing investments in the U.K. pits the company against Australia's Westfield Group, its largest international competitor.
The sale of commercial real estate by Lehman Brothers and American International Group could help loosen a tight market. Lehman's bankruptcy and AIG's loan from the federal government give each firm more time to sell real estate assets and may result in better pricing. "It's going to be a question of how much they're going to be able to spread out [the sales]," said Jon Southard, principal and director of forecasting at CBRE Torto Wheaton.