The Real Deal Miami

Dallas-based investor pays $75 million for Boca Raton shopping center

May 31, 2012 01:30PM

Glades Plaza

In another high-profile Palm Beach County retail sale, a Dallas-based investor has paid $75 million for Woolbright’s Glades Plaza in Boca Raton, the South Florida Business Journal reported. The property, which is located at 2200 Glades Road, had been foreclosed on by PNC Bank. A Woolbright affiliate ultimately found refinancing in the amount of $49 million with Ladder Capital Finance. The 188,158-square-foot center was sold to Dallas-based L&B CIP Glades Plaza. [SFBJ]