TERRANOVA/ACADIA TAKE THREE BUILDINGS FOR $52 MILLION IN MIAMI

MIAMI — Joint venture affiliates of Terranova Corp. and Acadia Realty Trust have acquired three Miami Beach retail buildings in a $52 million transaction. The assets are 741 Lincoln Road, 600 Lincoln Road and 723 Lincoln Road, which total more than 61,000 square feet. Current tenants at the properties include Starbucks Coffee, Geox Shoes, Sushi Samba Dromo and Tacontento. Terranova will manage and lease the Lincoln Road properties.