Capital Asset Management announced the sale of a three-property portfolio comprised of The Horizon Ridge Shopping Center in Henderson, Nev., the Gibson Road Shopping Center in Henderson, Nev., and the Lower Buckeye Plaza Shopping Center in Buckeye, Ariz., totaling 35,035 SF on 3.90 acres. The deal was brokered by Jason Hersker, Stephen Herman, Scott Smith and Rachael Cisco of Capital Asset Management.
The buyer is Diversified Business Strategies, LLC, a Utah limited liability company and the seller is 2010-1 RADC/CADC Property IV, LLC a Delaware limited liability company, formed by Cohen Financial. After having acquired these assets on Feb. 25, 2014, Cohen Financial hired Capital Asset Management for their ability to work with complex assets and create value. In this case, Capital Asset Management worked to solidify the tenant mix in each center and to identify any operational inefficiencies prior to preparing the assets for sale.
“Selling multiple retail properties in different states is very difficult. With Capital Asset Management it was very simple and the closing occurred without delays,” said seller Chris Martin, Senior Asset Manager Cohen Financial.