|Combined Properties Inc. continues its West Coast expansion with the purchase of The Terraces, a 173,000-square-foot community shopping center in Rancho Palos Verdes, Calif., with its new joint venture partner, Saban Capital Group.|
Bill Bauman, executive vice president, Kyle Miller, corporate managing director, and Marc Navarro, all of Studley’s National Retail Services Group, represented the seller. Combined Properties managed the acquisition through its Beverly Hills, Calif., office.
“Los Angeles continues to be a primary market for both institutional and
private investors looking to deploy capital. The seller of The Terraces took advantage of the high demand for retail infill opportunities,” Miller said in a release from Studley.
“Combined Properties, who has a history of successfully repositioning retail properties, recognized the opportunity to more fully leverage Rancho Palos Verdes’ wealthy demographics and take an already flourishing center to the next level,” Miller added.