File photo: A 2009 grand opening at the Plaza at Golden Valley.
The 6-year-old Plaza at Golden Valley commercial center east of Highway 14 in Santa Clarita has been sold to a California real estate investment partnership, according to the trade publication Commercial Property Executive.
The website of Merlone Geier Partners, with offices in San Francisco and San Diego, confirms that it now owns the 618,000-square-foot complex that includes a Target store, Lowe’s, Staples and Kohl’s, among others.
The seller was Terramar Retail Centers LLC, and the buyer is a Merlone Geier affiliate named MGP XI REIT LLC, according to the publication.
The purchase involves all of the retail property that’s part of the Golden Valley Ranch development. The price was not indicated. The housing portion of the development project has not yet started construction.
About Merlone Geier Partners
Merlone Geier Partners is a private real estate investment company focused on the acquisition, development and redevelopment of retail and retail-driven mixed-use properties on the West Coast. We target opportunities where we can add value through lease-up, repositioning, redevelopment or improved management. Our in-house staff of development, leasing, asset management and property management professionals executes our business plans with respect to each asset.
Primarily focused on community and neighborhood shopping centers, Merlone Geier Partners and our predecessor, M&H Realty Partners, have been actively investing in West Coast retail property since 1993, acquiring to date 129 West Coast properties representing more than 21 million square feet. Our firm, co-managed by Peter J. Merlone and Bradley A. Geier, has raised more than $3.2 billion of discretionary institutional equity capital over the past 21 years. We have recently closed our eleventh fund, Merlone Geier Partners XI, L.P., which has more than $900 million in capital commitments.