Turnbridge-led group offloads Long Beach retail properties for $30M

Mosaic, a six-building retail property in downtown Long Beach, has traded for $30 million.  Mosaic Promenade Holdings LLC, an entity tied to Los Angeles investor Homan Siman, bought the roughly 148,400-square-foot portfolio from Turnbridge Equities, Waterford Property Company and Monument Square Investment Group, L.A. Business First reported. The deal works out to about $202 per square foot. The portfolio, formerly known as City Place, spans six parcels totaling nearly 5 acres at 50 East Fourth Street, 145 East Fourth Street, 300 and 325 The Promenade North and 480 and 590 Pine Avenue. It was 78 percent occupied at the time […]

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