DJM Capital Buys Four Grocery-Anchored Properties in California Totaling 488,000 SF

SAN JOSE, CALIF. — San Jose-based DJM Capital, through a joint venture with affiliates of Fortress Investment Group, has acquired a four-property, grocery-anchored portfolio totaling 488,000 square feet of retail space across California. Merlone Geier sold the portfolio for an undisclosed price.

Chris Hoffmann of Eastdil Secured brokered the transaction. Bank of America served as lender and Brian Ley of JLL acted as equity intermediary.

The portfolio includes:

• Magnolia & Adams, a 68,000-square-foot property at 9062 Adams Ave. in Huntington Beach, Calif.
• Magnolia & Warner, a 62,000-square-foot center at 17070 Magnolia St. in Fountain Valley, Calif.
• Poway Town Center, a 101,000-square-foot asset at 12342 Poway Road in Poway, Calif.
• Deer Creek Village, a 257,000-square-foot property at 429 N. McDowell Blvd. in Petaluma, Calif.