Doerken Properties Inc., a Santa Monica real estate investment firm, has purchased a portfolio of three Sacramento-area properties for $64.4 million.
Doerken purchased the portfolio from Kimco Realty Corp. The three properties Doerken bought are:
- Commonwealth Square, 703 East Bidwell St. in Folsom -- anchored by Raley's, the shopping center is 97.5 percent occupied
- Kmart Center, 5200 Stockton Blvd. in Sacramento -- anchored by Kmart and Big Lots, the center is 100 percent occupied
- Glenbrook Shopping Center, 8700 La Riviera Drive in Sacramento -- anchored by Big Lots, the center is 100 percent occupied.
The deal was financed by George Smith Partners.