A venture involving affiliates of Memphis-based Poag Shopping Centers has acquired the 293,000-square-foot Shops at Valley Square retail and office complex in Warrington, real estate services firm CBRE said in a release Thursday.

The Poag affiliates and real estate funds managed by Ares Management L.P. of Los Angeles paid about $82 million for the property, according to CBRE executive vice president Brad Nathanson, who helped represent seller iStar Financial Inc. of New York in the deal.

Retail tenants at Valley Square, part of a larger master-planned residential and commercial development, include Banana Republic, Victoria's Secret and P.F. Chang's, according to its website.

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