**SITE Centers Sells Winter Garden Village for $165M**
SITE Centers Corp. (NYSE: SITC) has sold Winter Garden Village, a prominent retail center in the Orlando, Florida area, for $165 million. The 1.16 million-square-foot property features a strong tenant lineup, including Bealls, Best Buy, Burlington, LA Fitness, Market by Macy’s, Marshalls, Ross Dress for Less, Staples, and Target.
Originally constructed in 2007, the center has changed ownership several times in recent years. It was previously sold for $180.4 million in 2008 and again for $196 million in 2013.
The buyer is a limited liability company affiliated with DWS Group’s RREEF Property Trust. DWS Group is a publicly traded real estate investment firm, once part of Deutsche Bank.
A portion of the proceeds from the sale was used to repay $22.3 million in mortgage debt, according to SITE Centers.
SITE Centers specializes in open-air retail properties located in suburban, high-income areas across the United States. The company’s portfolio includes 28 such sites.
