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

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.