International Market Centers (IMC), formed by a group of investors led by Bain Capital Partners, has acquired three showroom properties for about $1 billion, Commercial Real Estate Direct reports. The property, known as World Market Center, located in Las Vegas backs $558.4 million of CMBS debt that is in default.

The International Home Furnishings Center in North Carolina was purchased from a group majority owned by Bassett Furniture Industries for $275 million, including the assumption of $100 million of debt. The Market Square Complex in North Carolina was acquired from Vornado Realty Trust for $139.5 million. The complex has a $111.6 million debt due in 2016.

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Click here for the additional coverage from The Associated Press.