6707-6795 Newberry Road , Gainesville , FL 75254 A 105,000 square foot community shopping center anchored by Toys R Us in Gainesville, Florida. The property was acquired in December 2003 for $12.9 million from an overseas bank at a 9.0% cap rate. A value-add strategy has been implemented that re-leased the movie theatre space to a better operator at a higher rent and leased a majority of the shop space. Subsequent to completing our plan and stabilizing the property, approximately 80% of the original equity investment was returned to investors with a refinance that was completed in December 2006. Back To Portfolio   |  Next Property