Pacific Castle, an Irvine-based owner-operator of retail shopping centers in the western U.S., has completed three transactions in California. The company completed two acquisitions and one disposition totaling more than $50 million in exchanged capital. The deals include:
Prune Tree Shopping Center in Salinas: Pacific Castle bought the property for $20 million from JG Management. The 131,000-square-foot center is anchored by Safeway and CVS Pharmacy. It also includes tenants such as McDonald’s, Taco Bell, Starbucks Coffee and AutoZone. Pacific Castle financed the acquisition through a 1031 exchange with existing capital partners.
UC San Francisco Medical Center: Acquired for $5.3 million from KB Homes. The property totals 3,400 square feet and is on the ground level of KB Homes’ newest condo development at 2655 Bush Street in San Francisco called the…