San Diego – Locally based Burnham Pacific Properties Inc. recently closed on the sale of Olympiad Plaza located in Mission Viejo, Calif.
The company sold its approximately 45,600 sq.-ft. interest in the center for roughly $11.8 million to Retail Value Investment Program, a joint venture comprised of Beachwood, Ohio-based Developers Diversified Realty, Stony Brook, N.Y.-based Coventry Real Estate Partners and Newark, N.J.-based Prudential Real Estate Investors. Proceeds from the sale were used to reduce outstanding debt.
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