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Macerich Acquires Crabtree Valley Mall In Raleigh For $290M From CVM Holdings LLC

Property Image
SOLD
$290,000,000

North Carolina

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Retail1,350,000 SF
Sold 06/24/2025
the dealdetailscomps
Property Image
SOLD

Macerich Acquires Crabtree Valley Mall In Raleigh For $290M From CVM Holdings LLC

4325 Glenwood Avenue

See Similar Deals
Retail1,350,000 SF
Sold 06/24/2025
the dealdetailscomps

Summary

NORTH CAROLINA
Asset Type:Retail
Price Per Square Foot:$214
Total Square Footage:1,350,000 SF
Transaction Type:Sale

The property asset involved in this transaction is Crabtree Valley Mall, located at 4325 Glenwood Avenue, Raleigh, NC. The retail asset spans 1,350,000 square feet and was sold for a total transaction amount of $290,000,000, resulting in a price per square foot of $215.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $290,000,000
  • Buyer: Macerich
  • Seller: CVM Holdings LLC
  • Broker: Eastdil Secured
  • Total Square Footage: 1,350,000
  • Price Per Square Foot: $215
  • Market: Raleigh, NC
  • Financing: $100M loan and cash
  • Renovation Investment: $60M
  • Occupancy Rate: 94%, increased from 87%

The transaction involved Macerich as the buyer, which is planning to execute a $60 million renovation on the property. The deal was represented by Eastdil Secured, facilitating the negotiation and transfer between seller CVM Holdings LLC and buyer Macerich.

Players

Eastdil Secured
Eastdil Secured
BROKERAGE
Macerich
Macerich
BUYER

Details

SOLD
IMAGE: 06/24/2025 ADDRESS: 4325 Glenwood Avenue MARKET: Raleigh, NC ASSET TYPE: Retail BUYER: Macerich SELLER: CVM Holdings LLC BROKER: Eastdil Secured SALE PRICE: $290,000,000 SF: 1,350,000 ~ PPSF: $215 NOTE: Macerich acquired Crabtree Valley Mall in Raleigh for $290M, financing with $100M loan and cash, and plans to invest $60M in renovations. The 1.35M-square-foot property is 94% leased, up from 87% since hitting the market last year.

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Deal Type
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Operating Expenses (Annual)
Net Operating Income (NOI)

$15,466,666.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$1,030,308.74
Cash-on-Cash Return-1.27%
Monthly Debt Service$1,374,747.95
Annual Debt Service$16,496,975.41