Donahue Schriber Realty Group Acquires Marigold Shopping Center in San Luis Obispo, California
Costa Mesa, California—Donahue Schriber Realty Group, a West Coast owner, operator, and developer of neighborhood, community, and power shopping centers announced the acquisition of Marigold Shopping Center from Kimco Realty. The 174,428 square-foot center is located at Broad Street and Tank Farm Road in San Luis Obispo, California. Anchors include a high volume producing Vons, CVS, Michaels, Dollar Tree, Big 5, Starbucks, and more. Center occupancy is currently at 89%.
Chief Investment Officer, Dave Mossman stated, “Marigold Shopping Center was a natural fit given Donahue Schriber’s strategy of expanding our presence in high-barriers-to-entry markets from San Diego to Seattle. Our company is committed to further strengthening the center’s existing tenant mix. Craig Zarro of Preferred Capital Advisors played an instrumental role in the capitalization of the acquisition with a new loan from PGIM Real Estate Finance. We are thrilled that PGIM Real Estate Finance once again demonstrated the ability to close quickly and meet our needs.” This was Donahue Schriber’s eighth transaction with PGIM Real Estate Finance. The relationship has grown to approximately $240 million in mortgage financings.
About Donahue Schriber Realty Group
Donahue Schriber Realty Group is a privately-held Real Estate Investment Trust (REIT) with 65 shopping centers representing over 11.5 million square feet of retail space throughout California, Nevada, Oregon, and Washington. For more information about the company, visit www.DonahueSchriber.com.