Rockwood Capital and Vestar sell Talega Village Center in San Clemente, Calif. for $23 Million

Today, Rockwood Capital and Vestar announced the sale of Talega Village Center, a 102,282 square foot grocery-anchored center located in an upscale subdivision of San Clemente, to Equity One for $23 million. This Real Estate transaction is a great example of Rockwood Capital’s ability to develop high-quality projects that create value for our investors. We are proud to have played a role in the creation of this vibrant community hub and we wish Equity One all the best as they take ownership of the property.

“We decided to sell Talega Village Center because the market conditions and value add we completed made it an ideal time to realize some profit,” said Jeff Axtell, Executive Vice President of Vestar. “In three short years, we were able to enhance the experience at the center, bringing in new retailers and adding amenities while creating a premier destination for the community.”

Axtell says that Vestar continues to pursue the acquisition of value-add retail investment opportunities. In the past 30 months, the firm has acquired more than $1 billion in retail properties in the western United States.

“We are pleased with the successful revitalization of this property, which exemplifies our strategy of investing in well-located real estate that offers value to our investors,” said Joel Mayer, Managing Director and Head of Retail for Rockwood. “Talega Village Center is one of several projects we have done together with Vestar and we look forward to continued positive results on other transactions in the future.”

Palmer Capital represented the sellers in the transaction.