The Real Deal Miami

Equity One sells Coral Springs shopping center

North Miami Beach REIT gets $12.4 million for Publix-anchored property
July 02, 2014 11:15AM

Riverside Square (inset: Doron Valero)

Riverside Square (inset: Doron Valero)

Equity One unloaded the Riverside Square shopping center in Coral Springs for about $12.4 million.

The North Miami Beach real estate investment trust sold the Publix-anchored center at 8100-8260 Wiles Road in a transaction recorded on Tuesday, according to Broward County records. GFI Riverside of Sunrise is the buyer. The company received an $8.1 million mortgage from Mercantil Commercebank for the acquisition.

GFI Riverside is managed by Doron Valero, the managing partner of Global Fund Investments. Global Fund specializes in acquiring, developing and managing shopping centers.

The 111,000-square-foot Riverside Square was constructed in 1987. — Eric Kalis