Texas group buys Naples shops

NAPLES — A privately-run group of investors based in Texas purchased The Collection at Vanderbilt, a 226,000-square-foot shopping complex in Naples, from Boca Raton-based Woolbright Development for an undisclosed price.

Prior to its acquisition by the Texas-based group, the lenders on the property obtained a $53.8 million foreclosure judgment on the shopping center.

The shopping center was built in 2009 at the northwest corner of Vanderbilt Beach Road and Airport Pulling Road. The complex is 30% leased, according to a statement prepared by mall representatives.