Sembler sells four Puerto Rico shopping centers

Forge Capital Partners, a Tampa private equity firm, has paid $80 million to acquire 550,000 square feet of shopping space in Puerto Rico from Sembler Co. of St. Petersburg. Sembler will continue to manage the properties, which constitute four of the retail development company's six centers in Puerto Rico. The centers are 88 percent leased. Sembler will retain an ownership stake in the centers, which were refinanced using $57 million in collateralized mortgage-backed securities.