DLC Management And DRA Advisors Acquire Retail Portfolio In California And Washington For $625M

The transaction involved a retail portfolio characterized as a 10-property shopping center acquisition. The sale was executed for a total of $625,000,000, encompassing locations in California and Washington. The portfolio includes grocery-anchored assets such as Clairemont Town Square in San Diego and The UV in Sacramento, with DLC Management taking over leasing and property management responsibilities.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $625,000,000
• Buyer: Adam Ifshin - DLC Management
• Buyer: David Luski - DRA Advisors
• Seller: Peter Merlone - Merlone Geier Partners
• Seller: Brad Geier - Merlone Geier Partners
• Market: California & Washington

This acquisition marks DLC Management's expansion into the West Coast market, where they have established their first regional office. The strategic move aligns with DRA Advisors' investment objectives, further enhancing their portfolio through the addition of this extensive shopping center collection.