U.S.-based real estate developer Heidenberg Properties announced it has completed the purchase of a 307,000 square feet shopping centre in Culpeper, Virginia, from real estate investment trust Regency Centers.

The acquisition was valued at $32 million.

Heidenberg said that this deal is in many ways a culmination of the investment strategy that it has been executing over the past few years.

The company added that It expects to add another dominant, grocery-anchored centre, as well as grow its portfolio in the Mid-Atlantic.