FORGE ANNOUNCES SALE OF INDIAN ROCKS SHOPPING CENTER
MACH II FCP Investments LLC, a joint venture between Forge Capital Partners and Artemis Real Estate Partners, is pleased to announce the sale of Indian Rocks Shopping Center, a 91,981 square foot neighborhood shopping center located in Largo, Florida.
Indian Rocks Shopping Center is a fully occupied Publix anchored shopping center that serves Largo and the surrounding Pinellas County beach communities. The shopping center is ideally positioned along Walsingham Road, Largo’s main commercial thoroughfare which provides access to the barrier islands. Publix has operated at the center since 1964 and recommitted to the site in 2014 with the redevelopment and construction of a new grocery store. Ownership purchased the asset in September of 2015 and added value through re-merchandising tenant mix and increasing operating efficiencies. The shopping center was sold to Tricon Development out of Rockledge, Florida.
Forge Capital Partners is a diversified, commercial real estate investment and investment management company. Forge has built a strong track record as an acquirer and operator of commercial real estate, specializing in socially responsible projects throughout the Southeast. Since 2000, Forge and its principals have successfully sponsored and managed four real estate oriented, closed-end private equity funds, and executed over a billion dollars in retail and multifamily real estate transactions.
Artemis Real Estate Partners is an investment manager based in metropolitan Washington, DC, with offices in New York City, Los Angeles and Atlanta. Artemis has raised approximately $5.8 billion of capital across core, core plus, value-add and opportunistic strategies. The firm makes equity and debt investments in real estate across the United States, with a focus on multifamily, industrial, office, retail, hospitality, senior housing and medical office. Artemis specializes in joint venture partnerships and direct investments.