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Newport Beach's Stoneridge Capital buys retail center for $20 million
Move supports firm's work to expand its commercial, multifamily assets.
By Kristen SchottPublished: December 14, 2009 12:32 PM
Newport Beach-based real estate investment firm Stoneridge Capital Partners recently acquired a retail center in Indian Wells for $20 million from A&B Properties.
The move supports Stoneridge's work to expand its commercial and multifamily assets by adding well-priced retail, office, hotel and multifamily properties to its portfolio, according to CEO Greg Merage.
“Current economic fundamentals have made a number of stable, high-quality properties available at favorable pricing,” he says.
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The move supports Stoneridge's work to expand its commercial and multifamily assets by adding well-priced retail, office, hotel and multifamily properties to its portfolio, according to CEO Greg Merage. “Current economic fundamentals have made a number of stable, high-quality properties available at favorable pricing,” he says. NEXT PAGE >> Related headlines CT/KDF Community Development Partners closes $36 million Voit Real Estate tops local industrial deals Laguna Niguel's Raintree Partners makes $21 million acquisition |
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