Four Sacramento area shopping centers have been acquired by an Irvine real estate firm for a combined $40 million.
Pacific Castle said Monday it has purchased Strawberry Creek on Bruceville Road in Sacramento; the Zinfandel center in Rancho Cordova; Willow Creek Town Center on East Bidwell Street in Folsom; and Waterman Grove Plaza on Elk Grove Boulevard in Elk Grove.
Three of the centers were bank-owned properties. Pacific Castle wouldn’t disclose the name of the seller in the fourth deal, involving the Zinfandel center.
The deals give Pacific Castle a total of five centers in the region; it already owned Rancho Cordova Town Center.
“We have had a presence in Sacramento for the past decade and as the economy continues to recover, we could see ourselves invested in the region for years to come,” said Pacific Castle president Rod Astarabadi in a press release.