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Last Updated ( Tuesday, 17 April 2012 15:40 )
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DATE_FORMAT_LC2=Tuesday,April 17 2012 12:00:00 am EDT
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Cole and RED Development Complete $100.5 Million Transactions
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Phoenix — Cole Real Estate Investments and RED Development have purchased Macerich's interests in two retail power centers in Chandler, Ariz. In a related transaction, Cole acquired 100 percent ownership of a third power center in Gilbert, Ariz. The transaction value for all three properties is $100.55 million. The joint venture now owns 50 percent interest in Chandler Festival and Chandler Village Center for $31 million and $14.8 million respectively. RED will serve as onsite property manager and leasing agent for both properties. Cole acquired 100 percent of SanTan Marketplace.
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