Real estate fund DRA Fund IX submitted the winning bid for a bankrupt retail plaza anchored by a Publix supermarket in Boynton Beach. The winning bid of $47.3 million for the 186,000 square foot retail scheme works out to be just over $254 per sqf. The asset, Fountains of Boynton, is located at the intersection of Jog Road and Boynton Beach Boulevard. In addition to Publix, tenants include Duffy’s Sports Grill, UPS Store, McDonald’s, Kidsville Early Learning Center, China Lane, Goodyear, and 7-Eleven. The owner of the Fountains of Boynton defaulted on a mortgage loan with a $50 million balance with the lender, an affiliate of New York-based Guardian Life Insurance Co. of America
