Joint venture builds holdings in South Florida

Westfork Tower LLC, a joint venture between BlackRock Realty Advisors and Terranova Corp., has acquired Westfork Plaza, a landmark shopping center in Pembroke Pines, Fla.

The value of the transaction was $58.4 million.

The 251,783-square-foot property is located on Pines Boulevard just west of I-75.

Miami-based LNR Property Corp. sold the property.

This marks the third collaboration between BlackRock and Terranova in the last 13 months, bringing their total deal volume to over $125 million, including two office buildings, one industrial park and eight urban retail properties.

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