Brookfield Properties has offloaded part of another shopping mall in California. The Toronto-based investment management firm sold The Shoppes at Carlsbad in a $71.5 million transaction, Commercial Observer reported. A joint venture between Los Angeles-based Steerpoint Capital and San Mateo-based Steelwave bought the 727,000-square-foot main portion of the property. The mall at 2525 El Camino Real spans a total 1.1 million square feet. The purchase doesn’t include the mall’s anchor tenants such as Macy’s and JCPenney. The shopping center currently has an occupancy rate of 74 percent, according to CO. Brookfield acquired the property in 2015 for $170 million. The […]
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