IRVINE, CA (March 29, 2016) – Cohen Financial, a national real estate capital services firm, today announced that Managing Director Mark Strauss facilitated a $30.6 million joint venture between the Broe Real Estate Group and Citivest Commercial to acquire the 98,906 square-foot Oceanview Village Shopping Center, which is a part of a mixed-use development containing 370 condominium units. The property is located on Alemany Boulevard off Interstate 280 in the San Francisco community of Ingleside Heights.
Broe, in conjunction with its operating partner Citivest, will reposition Oceanview Village Shopping Center. Currently, the property’s leases include Albertsons, Walgreens, 24-Hour Fitness, and Chase Bank. The repositioning plan includes upgrades to the facade, new landscaping, entrance lighting, parking lot upgrades, a new signage program, and enhancing the tenant mix.
“The combination of the resources and skill sets of Broe and Citivest make a powerful team to effectuate the planned improvements and revitalization of this property,” said Strauss.
About Cohen Financial
Cohen Financial is a diversified, commercial real estate capital services firm offering debt and equity placement, loan administration and advisory services. Cohen Financial is well recognized as one of the nation’s leading loan servicers and special servicers, as well as an originator of commercial and multifamily real estate financing. Known for finding innovative solutions to meet client needs, the company maintains an Equity Practice to help borrowers complete their capital needs and an enhanced Asset Advisory Services to assist financial institutions and investors to better evaluate assets and investment opportunities. Cohen Financial serves clients throughout the U.S. from offices in 10 major markets.
