Updated Jun 25, 2025
Macerich Acquires Crabtree Valley Mall In Raleigh For $290M From CVM Holdings LLC
4325 Glenwood Avenue
$290,000,000
$214/SF
Building Size
1,350,000 SF
Asset Type
Retail
Closing
Jun 24, 2025
About this deal
AI
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.
On the Map
$290,000,000
$214/SF
Retail
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Players
Raleigh Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.05%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93