An affiliate of Boca Raton-based Woolbright Development sold a Publix-anchored shopping center near Boynton Beach for $52.4 million – slightly less than its mortgage.
It is not clear whether the transaction was a short sale or whether Woolbright repaid some principal on the loan.
Woolbright Jog sold the 154,968-square-foot shopping center, at 10935 S. Jog Road, to Valencia Square Retail, an affiliate of Des Moines, Iowa-based Principal Real Estate Investors. The buyer is part of Principal Financial Group (NYSE: PFG).
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