Private Equity firm Madison International Realty announced the sale of nine Publix anchored shopping centers from DDRM Properties to Publix.
The portfolio consists of 732,000 s/f of leaseable space with eight assets located in Florida and one in Georgia. The sale price was not disclosed.
In 2017, Madison and DDR announced a $1.05 billion recapitalization of the shopping center portfolio, which consisted originally of 52 grocery-anchored centers.
“We continue to place great emphasis on our strategic partnership with DDR and our venture’s proven ability to execute its business plan. We have now achieved many of our operational milestones as well as dispositions of the portfolio,” said Ronald M. Dickerman, Madison’s founder and president.