A joint venture between Terranova and BlackRock Realty Advisors recently paid $39 million to acquire the brand-new Paraiso Parc, a new Publix-anchored shopping center in Pembroke Pines, Fla.

The property, which totals 88,850 square feet, is located on Pines Boulevard just west of I-75.

The acquisition of Paraiso Parc marks the fourth collaboration between BlackRock and Terranova in the last two-and-one-half years, bringing their total deal volume to more than $220 million, including two office buildings, one industrial park, eight urban retail properties and the shopping center.

The seller’s identity was not disclosed.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
Leaders from across the industry answered our call to come to Inman Connect and share essential advice for leveling up your 2021.SEE THE SPEAKERS×
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription