Caruso Affiliated Holdings purchased Marina Waterside, a 130,000-square-foot retail center in Marina del Rey, Calif.
The value of the transaction was not disclosed.
The 10-acre property is located on Lincoln Boulevard between Mindanao Way and Fiji Way.
Carlyle Realty Holdings sold the property, which does not include the County of Los Angeles-owned land on which it sits. In December the County approved the transfer of the long-term land lease to Caruso.