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Namdar Realty Group, Mason Asset Management & CH Capital Group Acquire Westgate Mall For $15.75M

Property Image
SOLD
$15,750,000

South Carolina

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Retail
Sold 06/12/2024
the dealdetailscomps
Property Image
SOLD

Namdar Realty Group, Mason Asset Management & CH Capital Group Acquire Westgate Mall For $15.75M

205 West Blackstock Road

See Similar Deals
Retail
Sold 06/12/2024
the dealdetailscomps

Summary

SOUTH CAROLINA
Asset Type:Retail
Transaction Type:Sale

The Westgate Mall in Spartanburg, S.C., has been acquired by a joint venture consisting of Namdar Realty Group, Mason Asset Management, and CH Capital Group for $15.75 million. This transaction successfully resolved a previous $40 million loan, resulting in a substantial loss for the seller, CBL & Associates Properties Inc.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $15,750,000
  • Buyer: Namdar Realty Group, Mason Asset Management & CH Capital Group
  • Seller: CBL & Associates Properties Inc
  • Address: 205 West Blackstock Road
  • Market: Spartanburg, SC

The acquisition of the Westgate Mall involved a collaboration among Namdar Realty Group, Mason Asset Management, and CH Capital Group. This deal underscores the strategic financial decision made by these companies to secure the mall property in Spartanburg, S.C., marking a significant transaction within the retail sector.

Details

SOLD
IMAGE: 06/12/2024 ADDRESS: 205 West Blackstock Road MARKET: Spartanburg, SC ASSET TYPE: Retail BUYER: Namdar Realty Group, Mason Asset Management & CH Capital Group SELLER: CBL & Associates Properties Inc SALE PRICE: $15,750,000 NOTE: A venture comprising Namdar Realty Group, Mason Asset Management, and CH Capital Group has acquired the Westgate Mall in Spartanburg, S.C., for $15.75 million, resolving a previous $40 million loan that incurred a substantial loss.

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