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NAPLES — Madison Marquette, an investor, developer and operator based in Washington, D.C., acquired an ownership stake in four retail properties in Naples. The four properties are: Mercato, Crossroads Markets, Neapolitan Way and Midway Plaza.
Financial details, including the size of Madison Marquette's newly acquired ownership stakes, were not disclosed.
“Naples is an affluent market that is gaining strength, and we are delighted to have acquired these well-positioned centers,” said David Brainerd, Madison Marquette's managing director of investment.
With these latest deals, Madison Marquette's Florida portfolio grows to include 3.7 million square feet of retail space, including holdings in Tampa, Fort Myers and Orlando. Nationwide, the company controls 18 million square feet of space.
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