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Cohen & Steers Income Opportunities REIT Inc. and Phillips Edison & Co. have purchased Oak Grove Shoppes, a 142,000-square-foot, grocery-anchored shopping center in Orlando, Fla.
This marks the second acquisition for the $300 million joined venture focused on acquiring open-air, grocery-anchored shopping centers. The REIT holds an 80 percent stake, while PECO owns the remaining 20 percent in the partnership.
