The Real Deal Miami

Publix-anchored Tamarac center sells for $28.5M

Doron Valero's Global Fund Investments makes third pricey deal of this summer
July 28, 2014 12:00PM

Sunshine Plaza (inset: Doron Valero)

Sunshine Plaza (inset: Doron Valero)

Doron Valero’s Global Fund Investments is having a busy summer buying and selling South Florida retail properties.

In the Sunrise-based company’s latest transaction, it sold the Publix-anchored Sunshine Plaza in Tamarac for $28.5 million, according to Broward County records. The sale was recorded on Monday. Valero-managed GMM Sunshine paid $15 million for the nearly 246,000-square-foot shopping center in July 2011.

Sunshine MZL is the buyer of the 4017-4299 West Commercial Boulevard property. The company is linked to New York-based Katz Properties. It assumed an existing loan from ING Life Insurance & Annuity Co. as part of the transaction.

In the past month, companies managed by Valero acquired Publix-anchored shopping centers in Broward and Palm Beach counties from Equity One for a combined $23.4 million. Before launching Global Fund, Valero served as Equity’s president and chief operating officer during a 12-year stint with the real estate investment trust that ended in December 2006. — Eric Kalis