Paradise Capital Group acquires Paraiso Town Center

Thousand Oaks, Calif. -- Beverly Hills, Calif.-based Cardinal Equities, through its affiliate Paradise Capital Group, said it has acquired from U.S. Bank a 50,000-sq.-ft. retail and office complex in Dos Vientos Ranch, a master-planned community in Thousand Oaks, Calif.

Paraiso Town Center, built in 2008 and foreclosed on by the construction lender in late 2009, includes 40,000 sq. ft. of ground-level retail and restaurant space with outdoor dining, and 10,000 sq. ft. of office space.

The center is currently 20% occupied, and features Boney Mountain Coffee, Red Coral Restaurant, Fitness Together, The Art Box and Paraiso Cleaners.

Paradise Capital has engaged CBRE to head up leasing effort.