Printer Friendly

Somera snags Aurora Park shopping center.

DENVER: Somera Capital Management, LLC, on behalf of its Somera Realty Value Fund II, L.P., has entered into a joint venture with an affiliate of Southwestern Investment Group, Inc. (SWIG)--an operating and equity partner--to acquire the 36,071 s/f Aurora Park Shopping Center in Aurora, Colorado. Strategically located at the intersection of East Alameda Avenue and South Sable Blvd., two heavily traveled routes, the property is at the center of commercial and retail activity in the submarket. It is adjacent to Aurora City Center, the recently renovated Town Center at Aurora mall and Centrepoint--a new mixed-use project and transportation hub.

This acquisition is Somera Capital's first joint venture with Southwestern Investment Group, a Colorado-based real estate investment, development and management company, whose principals have very strong real estate backgrounds and significant experience in the shopping center market.

SWIG will be responsible for overseeing the rehabilitation at Aurora Park Shopping Center, and for leasing and managing the property.

Built in 1978, with little done to maintain the property in the last few years, it requires significant capital improvements.
COPYRIGHT 2008 Hagedorn Publication
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2008 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:NATIONAL
Publication:Real Estate Weekly
Date:Apr 2, 2008
Words:180
Previous Article:Carey puts Best foot forward with $50m manufacturing buy.
Next Article:Commercial Internet needs take a giant step forward at 370 Lexington Avenue.
Topics:


Related Articles
SOMERA LAUNCHES "TURNKEY TELCO INITIATIVE" PROGRAM.
Westfield offloads shopping centers in $550m deal.
AZ buy expands Somera portfolio.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |