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Photo credit: Courtesy of Champions Village Randalls grocery in Champions Village, Houston
New Market Properties, a division of Atlanta-based John Williams' Preferred Apartment Communities, is under contract to buy eight retail properties from Hines REIT for $209M, about $198/SF. The deal expected to close in August includes Champions Village in the Champions Forest area north of Beltway 8. The 404k SF shopping center is more than 85% leased, anchored by both Randall's and Stein Mart. Champions Village is the only property in the portfolio not involved in the process of arranging 10-year first mortgage loans.
