Donahue Schriber buys Pardee interest; forms joint venture

Costa Mesa, Calif. Donahue Schriber announced the purchase of Pardee Homes’ interest in its Del Mar Highlands Town Center in San Diego.

Donahue Schriber has formed a joint venture partnership with the Canada Pension Plan Investment Board (CPPIB) to effect the transaction.

Originally developed by Donahue Schriber through a joint venture with master-planned community developer, Pardee Homes, the 272,567-sq.-ft. Del Mar Highlands Town Center opened in 1989 and continues to be one of the dominant community centers in the affluent Carmel Valley area of north San Diego County.

This is the first joint venture between Donahue Schriber and CPPIB.