Arroyo Company is pleased to announce the sale of the Arabia Courtyards, a 32,770 SF Rite Aid anchored shopping center located in Indio, California. The property was 97% occupied at the time of close.
This off market transaction completed the downleg in a 1031 exchange for the buyer, a group of private investors who purchased the property from the original developer. The buyer also assumed a CMBS loan. All parties were represented by Arroyo & Company, headquartered in San Francisco. Pedro Arroyo & David Kram were the Brokers that managed the transaction.
Arroyo & Company specializes in the acquisition and disposition of commercial and multifamily properties. Year to date, Arroyo & Company has over $100,000,000 in off market transactions currently under contract with contingencies removed or closed. Please contact us if you would like a market update, opinion of value, additional information regarding this transaction, or to discuss off market opportunities. firstname.lastname@example.org