centro purchaser...

Source: www.costar.com/news

DLC Buys Skytop Pavilion
July 21, 2008
Written by Sasha M Pardy

Ready to Spend $700 Million on Acquisitions
After announcing last week that it acquired a Skytop Pavilion, a 133,631-square-foot Bigg's Supermarket-anchored shopping center in Cincinnati for an undisclosed amount,
DLC Management Corp said it has more than $700 million of capital available for "immediate investment in retail property."

The long-time shopping center owner/operator is taking advantage of its position in the industry by stepping in to acquire when others can't. DLC acquired Skytop Pavilion after three other buyers were unable to complete the complex conditions to assume the existing mortgage. “Our long track record with CMBS master and special servicers enabled us here, as in other places, to close a transaction others could not,” said Daniel Taub, DLC's executive VP and COO.

DLC leases a portfolio of 96 open-air shopping centers, totaling over 16,500,000 square feet in 25 states.

While DLC did not disclose the seller, CoStar COMPS shows Centro Properties Group sold the shopping center. For more information, see CoStar COMPS # 1556531.


Ends.

Cheers, Pie :)