/

|

Sterling Organization has purchased Rossmoor Shopping Center, a 118,846-square-foot retail center in Walnut Creek, Calif., for $61.1 million.

Citivest sold the asset after 13 years of ownership, according to CommercialEdge information. Sterling financed the purchase with a $35.8 million loan from U.S. Bank.

The buyer purchased the asset on behalf of Sterling United Properties II LP, its $267 million equity fund. Following the Walnut Creek acquisition, the fund now owns 17 grocery-anchored retail properties totaling more than 1.2 million square feet.