PMAT Companies Announces the Acquisition of Columbia PromenadePosted Sep 01, 2020
The PMAT Companies purchased Columbia Promenade, a 65,853-square-foot, Publix anchored shopping center in Kissimmee, FL from an undisclosed real estate and finance company for $7.65 million. JLL Capital Markets marketed the properties in coordination with Ten-X on behalf of the seller. The property was 92.7% leased at time of sale. The center is located at 1251 W. Columbia Ave., 18 miles southwest of downtown Orlando. To accommodate the seller’s desire for a quick close, PMAT closed on the transaction within 30 days of reaching agreement on basic deal terms. Columbia Promenade is PMAT’s 18th acquisition in Florida and 2nd acquisition during the pandemic.
PMAT Companies have acquired and renovated over 40 primarily grocery anchored shopping centers with an aggregate transaction value of over $1 Billion dollars consisting of 9 million square feet. PMAT's investment strategy is to acquire value-add shopping centers and create long term value through redevelopment and re-tenanting of the assets.
For more information on PMAT please visit www.pmat.net
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