New Orleans — based PMAT Real Estate Investments, LLC acquired CocoWalk, a 200,000-square-foot lifestyle center in Miami, Fla., for $87 million from Thor Gallery at CocoWalk, LLC. PMAT plans to redevelop the property with $5 million worth of capital improvements.
Blackrock Retail Property Advisors completed the sale of Columbus Corners, a 93,500-square-foot retail property in Whiteville, N.C., to a private investment group for $11.58 million. Casey Rosen, Dennis Carson and Nikolas Kozy, of Blackrock Retail, represented the seller, Progressive Development Partners, in the transaction.
iCap Realty Advisors arranged a $30.8-million permanent loan for a convenience store portfolio in Georgia. The loan featured a 6.875 percent rate and a 20-year term.
The Sembler Company broke ground on Cumming Town Center, a 300,000-square-foot shopping center in Cumming, Ga. Completion is scheduled for the summer of 2007.
Stirling Properties is planning to expand the Hammond Square Mall in Covington, La. The project will include the addition of 419,000 square feet of retail space to the property's existing 421,000 square feet and a revamping of the mall's tenants.
Impressa Group secured a $22-million acquisition financing for the Palisades Shopping Center in Birmingham, Ala. on behalf of Victory Real Estate Investments LLC. The property is a 290,000-square-foot existing retail center.