Sterling Organization, a private equity real estate investment firm focused on retail property assets, announced the $70 million sale of Windsor Square in the Charlotte suburb of Matthews, North Carolina.
The 661,156-square-foot retail center was completed in 1987 and underwent a $16 million renovation between 2012 and 2014. Windsor Square, which was originally acquired by Sterling for $38.4 million, encompasses seven retail buildings and is currently 97% leased with anchor tenants including Sam’s Club, Kohl’s, Ross Dress for Less, PetSmart, Office Depot, Bealls and At Home.
“We’d like to extend our gratitude to Rad von Werssowetz’s team at Berkeley Capital for their assistance with this transaction,” said Jordan Fried, principal of Sterling Organization. “We wish the purchaser, Hackney Real Estate Partners, as much success as we have had with this outstanding asset. It was a pleasure working with such a fantastic group, and we truly appreciate their professionalism throughout the process.”
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