Investment firm Brookwood Financial Partners LLC expanded its Florida portfolio with the acquisition of Melbourne Shopping Center in Melbourne, Florida on Monday.
The company said the property has been a staple in the community since its construction in 1959, and in 2022, it underwent an extensive renovation while its space is currently 94.2% occupied. In addition to Publix, the property contains a diverse tenancy, including Big Lots, Beall’s Outlet, CATO, Conn’s, Club 4 Fitness, Dollar Tree, and Pet Supermarket, the company added.
The firm said Brookwood acquired 39 properties totaling over 3.3 million square feet, including CBD and suburban office buildings, grocery-anchored shopping centres as well as 1,360 residential building lots. Brookwood has also invested over $441 million to acquire properties with a realized sale of over $620 million, added the firm.
The Beverly-based company also said the immediate trade area in which the property is situated has a growing population base, where it further benefits from its location within Florida’s Space Coast, i.e., home to aerospace industry enterprise leaders such as Boeing, Lockheed Martin, L3Harris, Blue Origin, and SpaceX.
The private equity firm specializes in acquiring and managing commercial real estate and other real estate-related operating businesses.
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