EAST LONGMEADOW, MASS. — New York-based Katz Properties has acquired Heritage Plaza in East Longmeadow, Mass., and Golden Ring Plaza in Rosedale, Md., for approximately $52.5 million. Heritage Plaza is an 116,840-square-foot shopping center built in 1974. The shopping center, which is located at 470 N. Main St., was purchased for $28.4 million. The 55,330-square-foot Golden Ring Plaza, located at the intersection of Philadelphia Road and Rossville Boulevard, was purchased for $24 million. Mortgage financing for both deals was arranged by Tim Breda of Goedecke & Co. Dallas-based Sentinel Investments, on behalf of Vermont-based National Life, financed Heritage Plaza. New York City-based AIG Global provided financing for Golden Ring Plaza. For Heritage Plaza, Cushman & Wakefield’s Capital Markets Group, led by Geoff Millerd, Justin Smith and Rob Griffin, represented Katz Properties and the seller in the transaction. For the Golden Ring Plaza transaction, the CBRE team of R. William Kent and Gary Lawrence represented the buyer and seller. Winslow Property Management will provide leasing and property management services for both shopping centers.
