Bisnow Exclusive: Why Ares Management Is Bullish on SoCal Retail
Bisnow just learned a JV of Citivest Commercial Investments and private equity giant Ares Management closed this week on a major portion of Temecula Town Center for $60M following an online “best and final” round auction. Here's Colliers SVPs Donald Ellis and Michelle Schierberl, who repped the seller, with Citivest president Larry Weese.
The nearly 242k SF portion of the center acquired by Citivest and Ares includes a CVS, Home Goods and 24 Hour Fitness, among others. The center at 27540 Ynez Rd is currently 85% occupied.