Ziff Real Estate Partners (ZRP) recently sold Castle Hills Market, a neighborhood shopping center in San Antonio spanning 97,682 square feet. The property was purchased by Kobalt Investment Co., with financing provided by Woodforest National Bank for $11.7 million. Located on 6.7 acres at 2211 NW Military Highway, the center has been acquired after ZRP’s ownership of just two years.
According to Commercial Edge data, ZRP had originally acquired the shopping center back in 2020 and later secured an $8.6 million loan from Randolph-Brooks Federal Credit Union in the following year.
Castle Hills Market was established in 1986 and has undergone significant improvements since its purchase four years ago under previous ownership through physical enhancements to the property, leasing strategies and tenant upgrades.
The deal was brokered by John Indelli, Whitney Snell, Chris Gerard and Ryan West of JLL.
In April this year,ZRP expanded into Arizona’s retail market with their acquisition of Mercado at Scottsdale Ranch,a shopping center covering over118751 square feet locatedin Scottsdale for a total cost of$26.5 million.
