![]() ![]() The Paris-based owner and developer boasts a portfolio of commercial real estate assets valued at $55 billion, including 82 shopping centers and 53 flagship regional malls across Europe and the U.S.Ĭitivest, Hutensky Sell The Shops at Palm Promenade in San Diego for $41.5 Million OctoSBH Real Estate Group Sells Raising Cane’s-Occupied Property in Alhambra, California for $8.2 Million OctoFaris Lee Negotiates $11.1 Million Sale of Bank of America-Occupied Retail Building in Metro Los Angeles October 13, 2022ĬEG Capital Partners Buys Mesa College Square Shopping Center in San Diego for $10.5 Million OctoMarcus & Millichap Arranges $13.1 Million Acquisition Financing for The Shops at AMC Palm Promenade in San Diego OctoProgressive Real Estate Partners Arranges $2.8 Million Sale of Restaurant Building in Moreno Valley September 27, 2022 The sale of Westfield Santa Anita is part of an ongoing effort by the company to reduce its financial exposure to the U.S. Development plans for the property include the addition of 550 luxury apartments and a “main street” outdoor district with restaurants and retail space. URW made headlines earlier this week with the announcement of redevelopment plans for Westfield Garden State Plaza, a 2.1 million-square-foot regional mall in the Northern New Jersey community of Paramus. ![]() The property is also home to AMC Theatres entertainment concepts such as Bowlero, Luxy Karaoke and Dave & Buster’s and restaurants including The Cheesecake Factory, Benihana, California Pizza Kitchen and Din Tai Fung. ![]() Penney, Macy’s, Nordstrom, Sephora, Free People, Kate Spade, Fabletics, Coach, lululemon, Michael Kors, Steve Madden, Victoria’s Secret, Zara and Abercrombie & Fitch, among others. The Class A regional mall was 96 percent leased at the time of sale to tenants including J.C. The acquisition was funded through a combination of equity and new debt, and reflects a sub-6 percent net initial yield and a 10.7 percent discount to the property’s latest appraisal price. The buyer is an undisclosed real estate investor that owns other retail assets in Southern California. since 2018, according to Eastdil Secured, which acted as financial advisor to the seller. The transaction represents the largest price paid for a regional mall in the U.S. Arcadia, Calif. - Unibail-Rodamco-Westfield (URW) has sold Westfield Santa Anita, a 1.5 million-square-foot regional mall located roughly 15 miles northeast of Los Angeles in Arcadia, for $537.5 million. ![]()
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