WALNUT CREEK, CA--(Marketwired - November 10, 2016) - Today Walnut Creek, California-based Loja Real Estate announced the sale of 11 retail properties located in markets across the U.S. The buyer is New York-based Clarion Partners on behalf of a commingled fund and a separate account managed by the firm. The transaction closed on November 8, 2016.
"We are happy to complete this transaction with Clarion Partners. Clarion is a skilled and focused real estate investor with a highly qualified team across the country," said Tom Engberg, Chief Executive Officer of Loja Real Estate, "They are a first class organization and were a pleasure to work with throughout."
The sale fits with Loja's long-term portfolio strategy. "Loja looks to seize opportunity when it presents itself, on both the buy side and the sell side. With uncertainties around the election and given commercial property valuations, we felt it was a good time to move some properties," said Katherine Burr, Executive Chairwoman of Loja Real Estate.
The properties were single-tenant, net-leased grocery stores located in Chicago, Florida, Minnesota and California, and a multi-tenant, grocery-anchored shopping center located in Denver, Colorado.
Loja plans to continue its retail property acquisition program in markets across the country.
ABOUT CLARION PARTNERS, LLC
Clarion Partners, an SEC registered investment adviser, FCA authorized manager and FINRA member firm, has been a leading U.S. real estate investment manager for more than 34 years. Headquartered in New York, the firm has offices in Atlanta, Boston, Dallas, London, Los Angeles, São Paulo, Seattle and Washington, DC. With more than $42 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors. More information about the firm is available at www.clarionpartners.com.
ABOUT LOJA REAL ESTATE, LLC
Loja Real Estate, LLC is a private equity real estate investment firm with $350 million in assets under management. Loja acquires and manages commercial real estate assets throughout the United States. Additional information about Loja may be found at www.lojagroup.com.