Hornig Capital Partners, LLC, a New York-based privately-held real estate investment company, has formed a joint venture with Hutensky Capital Partners of Hartford, Conn.,to buy the Golden Gate Shopping Center, a retail plaza in Mayfield Heights, Ohio.
The joint venture purchased the retail property from Forest City Enterprises for more than $47 million, together with B&D Holdings, making it one of the largest single asset retail deals in the greater Cleveland market during the past 24 months.
Golden Gate Shopping Center sits in a high-volume retail corridor and is anchored by tenants including Marshalls, PetSmart, Golf Galaxy, h.h. gregg, OfficeMax and Jo-Ann Fabrics. Built in 1958, the 371,748-square-foot center was renovated in 1995.
