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ST. SIMONS ISLAND, GA. — A joint venture between Atlanta-based Paces Properties and Somera Capital Management has purchased the 108,000-square-foot Retreat Village Shopping Center, located in St. Simons Island, from RVMC for $8 million. Fred Freyer of St. Simons-based Don Wright & Associates represented the buyer in the transaction. John Hampton of White Oak Real Estate Advisors arranged joint venture equity for the transaction. The joint venture will invest approximately $1 million for renovations at the center, which will include a new facade, updated exterior lighting and the addition of decorative awnings and architectural pilasters.