Redwood West And Partners Acquire Victoria Gardens Retail Center From Brookfield For $530M

The retail asset located at 12505 North Main Street in Rancho Cucamonga was acquired by a venture led by Ben Gott, Colby Cyburt, and John Pomer, in collaboration with Stenn Parton. The property spans 1,200,000 square feet and was purchased for approximately $530,000,000 from Brookfield. The transaction established a price per square foot of $441, highlighting the asset's significant value in the market.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $530,000,000
• Address: 12505 North Main Street - Victoria Gardens
• Market: Rancho Cucamonga
• Square Footage: 1,200,000
• Price per Square Foot: $441
• Buyer: Ben Gott, Colby Cyburt & John Pomer - Redwood West, Panattoni, Prime Finance & Stenn Parton - Prism Places
• Seller: Brookfield
• Brokers: Michael Pagliari & Chris Hoffmann - Eastdil Secured

This transaction was notable for its financing, as an Ares Real Estate fund provided the debt financing, which facilitated the acquisition of the sizable shopping and lifestyle destination known as Victoria Gardens, a prominent retail center in the Inland Empire and one of the busiest open-air lifestyle centers in the nation.