WALNUT CREEK, CA--(Marketwire - Mar 12, 2013) - Tom Engberg, CEO of Loja Real Estate, LLC, announced today the sale of Downtown Pleasant Hill Shopping Center in Pleasant Hill, CA to an account advised by the US real estate business of UBS Global Asset Management for approximately $100 million. The transaction closed on March 8th. Loja Real Estate, LLC is a wholly-owned subsidiary of Loja Group LLC, a real estate investment management firm.
"We are delighted that UBS is involved with this asset," said Tom Engberg, Chief Executive Officer of Loja Real Estate. "They understand the value of this property as a community asset for the town of Pleasant Hill. We believe they will carry on with the program of improvements we instituted here," he said.
Downtown Pleasant Hill is a 345,687 sq. ft. shopping center with prime retail space located in the affluent community of Pleasant Hill in the San Francisco Bay Area, CA. Downtown Pleasant Hill is the central business district for the town with 40 brand name retailers, including Century Theaters, Lucky Supermarket, Bed Bath & Beyond, Michaels, Ross, Golfsmith, Paul Mitchell the School, Carter's, and Zachary's Chicago Pizza.
"Loja's real estate team is to be commended for adding value to an already strong property. It has been a real pleasure to own Downtown Pleasant Hill and it would be a great property to retain in our portfolio. We felt, however, that this was an opportune time to sell and advance other important initiatives at Loja," said Katherine Burr, CEO of Loja Group LLC.
Loja was represented in the sale by Kevin Van Voorhis, James Kaye, Jay Gomez and Lindsey Lantis of Colliers International.
About UBS Global Asset Management
With over 35 years of real estate investment advisory experience, the US real estate business of UBS Global Asset Management has approximately $20.2 billion under management on behalf of over 450 clients. A multi disciplined real estate organization with staff of approximately 176, it is headquartered in Hartford, Connecticut with regional offices in San Francisco and Dallas. In addition to its US real estate business, UBS Global Asset Management, Global Real Estate manages investments in Europe, Asia and Australia, totaling approximately $65 billion in real estate and real estate securities worldwide. In the US it operates through its legal entities, UBS Realty Investors LLC and UBS AgriVest LLC, registered investment advisors. www.ubs.com/realestate
About Loja Group LLC/Loja Real Estate, LLC
Loja Group LLC is a real estate investment management firm with $190 million in assets under management. Through Loja Real Estate, LLC, a wholly-owned subsidiary, Loja acquires and manages grocery-anchored real estate assets throughout the United States for institutional clients. Additional information about Loja may be found at www.lojagroup.com.