Palm Beach County Mall Fetches $341 Million

Starwood Capital Group completed its purchase of the Mall at Wellington Green from Taubman Centers.
The Greenwich, Conn.-based company, through affiliate TM Wellington Green Mall, paid $341 million for the 1.27 million-square-foot retail center. The deal included the Nordstrom and City Furniture anchor spaces, but not the buildings owned by Macy’s, J.C. Penney and Dillard’s.
Starwood Capital previously announced that it would acquire the Mall at Wellington Green as part of seven malls it’s buying from Taubman for $1.4 billion. The existing onsite management teams will remain at those properties.
 

“We look forward to strengthening our relationships with the properties’ anchors and tenants, welcoming new employees to our growing family, and working closely with all stakeholders to ensure that these shopping centers are the dominant retail destinations within their trade areas,” Starwood Retail Partners President and COO Scott Ball said in a news release.

The deal includes 57.5 acres.
 
Source:  SFBJ
 
 

 ————————-

Get the latest industry news and information from CRE-sources delivered right to your email inbox! And we promise…no more than one email each morning. Just follow the instructions below.

Enter your email address:
Delivered by FeedBurner