Houston investment firm adds Clermont shopping center to portfolio
By Jerry Stockfisch
May 31, 2019 at 6:52 PM
A Texas investment company that has been expanding its retail holdings in central Florida has purchased Clermont Regional Shopping Center from Florida’s V3 Capital Group for $18 million.
Silvestri Investments Inc., a Houston-based family real estate firm, struck the deal with a $13.5 million mortgage to Standard Insurance Co. of Hillsboro, Ore. It was recorded in Lake County on May 21.
Clermont Regional has 18 tenants within its 191,946 square feet, including anchors Pet Supermarket, Fitness CF and At Home décor superstore. There is one vacant suite of 1,680 square feet. It is at 1002-1086 State Road 50, just east of the busy intersection of that road and U.S. Highway 27.
The center was built in 1994.
“It has three strong anchor tenants with a lot of foot traffic,” said Bobby Bridges, vice president of real estate services for V3 Commercial Advisors. That firm, an affiliate of the seller, will stay on as property manager and leasing agent, Bridges told GrowthSpotter.
Silvestri has offices in Houston and Canada and has a market representative for Florida in New Smyrna Beach. The company oversees lease agreements for 65 retail locations encompassing 3.3 million square feet in Texas and Florida.
In central Florida, Silvestri owns Goldenrod Plaza, Sand Lake Shopping Center, Gardens on Millenia, Oak Hill Station and Sun Plaza in Orlando; West Oaks Town Center in Ocoee; Apopka Common and Apopka Square in Apopka; and GFS Marketplace in Altamonte Springs.
It owns vacant land in Daytona Beach, New Smyrna Beach and Cocoa.
Sylvestri spent 15 years building the 80-acre Oceanwalk Condominiums in New Smyrna Beach, finishing the 600 units in 20 six-story buildings in 2015.