LaeRoc Funds, a Los Angeles-based investment fund, has purchased 5 Points Shopping Center in a Sacramento, Calif., suburb for an undisclosed price.
The 50,140-square-foot retail asset, sold by Stockton, Calif.-based Progenitor Holdings Co., is located at 5100 Arden Way in the city of Carmichael.
At the time of sale, 5 Points Shopping Center was 100 percent leased at the time of sale by tenants that included 24 Hour Fitness, Hollywood Video and Coldstone Creamery.
This is LaeRoc’s second retail purchase in the Sacramento area. In 2006, it acquired the 432,000-square-foot Country Club Plaza shopping mall for $57.8 million.