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PREI Acquires Retail, Office Portion of Mercato (Update)

JV Divests Mixed Use Development in Naples
By Justin Sumner
CoStar News
May 12, 2015 | 6:59 P.M.

Barron Collier Companies, The Lutgert Companies, and Madison Marquette have sold the retail and office portion of Mercato, a mixed-use lifestyle center in Naples, FL, to Prudential Real Estate Investors (PREI), the real estate investment and advisory arm of Prudential Financial, Inc. (NYSE: PRU) with more than $1 trillion in assets under management.

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