March 27, 2026
Willkie advised affiliates of Sterling Organization, a leading private equity real estate firm, in connection with the disposition of a seven-property, multi-state retail portfolio, for a total purchase price of $298 million. The transaction closed on March 25, 2026.
The portfolio is comprised of seven high-performing grocery-anchored and open-air retail centers strategically located across key markets in California, Florida, Minnesota and Texas:
- Silver Lake Village - Saint Anthony, Minnesota
- Fridley Market - Fridley, Minnesota
- Coral Landings III - Coral Springs and Margate, Florida
- Oceanside Town & Country - Oceanside, California
- Pavilion Plaza West - Garden Grove, California
- North Ranch Gateway - Westlake Village, California
- Town Center Colleyville - Colleyville, Texas
The portfolio benefits from a highly diversified tenant base anchored by leading national and regional retailers, including Cub Foods, TJ Maxx, Best Buy, Smart & Final, Sprouts Farmers Market, Aldi and Market Street, among others.
The selling entities were affiliates of Sterling Organization, a vertically integrated private equity real estate firm headquartered in West Palm Beach, Florida, with a national portfolio of retail and mixed-use properties.
The Willkie team was led by partners David Drewes and Melissa Fischetti and included associates Frederick Swanstrum, Chloe Lucatuorto and Celine Alhout.
