Add That Value, Sell That Asset
OC retail has also made enough of a recovery that it’s a good time to sell assets. Recently Rockwood Capital and Vestar sold Talega Village Center, a 102k SF grocery-anchored center in San Clemente to Equity One for $23M. Now is an ideal time to realize some profit, Vestar EVP Jeff Axtell explains, not only because of market conditions, but also because the owners have been able to add value in the three years they owned the property—including bringing in new retailers and amenities. (Also, don't knock the power of some jazzed-up signage.) Palmer Capital repped the sellers in the deal.