News

In 2019, DRA Advisors dropped $73.7 million for more than 630,000 square feet of office space in downtown Minneapolis. Five years later, DRA sold the same property for 91% less than what it bought the space for.

An entity in Great Neck, New York, called Namdar Realty Group has purchased the two office buildings located at 900 and 920 Second Ave. S. for $6 million from a group related to DRA Advisors called G&I IX OIC LLC. Read more at Finance & Commerce.

Namdar Realty Group, a commercial real estate investment and management firm based in New York, purchased Westgate Mall in Spartanburg for over $15 million May 23. Read more at Upstate Business Journal.

Purchase of Downtown Cleveland’s third-tallest skyscraper last week was officially confirmed today by the skyscraper’s new owner. A partnership of Namdar Realty Group and Mason Asset Management, both of Long Island, NY, also said they have a formed a five-year capital plan to improve 200 Public Square and hired a new building manager to carry out that plan. Read more at NEOTrans Blog.

Namdar Realty Group and Mason Asset Management’s acquisition of a prime retail space in Chicago’s Magnificent Mile reflects a strategic bet on the revival of high-profile retail destinations in a post-pandemic world. Read more at bnnbreaking.com.

The company that owns the Westfield Trumbull mall announced it has sold the property, as well as another mall it owns on Long Island.

A release from Unibail-Rodamco-Westfield put the value of the sale at $196 million.

To read more, please visit News 12 The Bronx.

A Paris-based real estate company has sold its second Long Island mall in two years, as it tries to reduce its debt by unloading its U.S. retail properties.

Westfield South Shore in Bay Shore and Westfield Trumbull in Trumbull, Connecticut, were sold by Unibail-Rodamco-Westfield for $196 million Friday, URW said in a statement Tuesday.

To read more, please visit Newsday.

BAY SHORE, NY — Westfield Mall South Shore in Bay Shore, along with Westfield Trumbull in Trumbull, Connecticut, were officially sold for a total of $196 million last week.

Unibail-Rodamco-Westfield, a French company which owns 21 malls in the U.S. and several international locations, said in a news release that it sold the two malls Friday to commercial real estate investment firm Namdar Realty Group.

To read more, please visit Patch.

Global retail landlord Unibail-Rodamco-Westfield ended the year by selling two malls for $196 million to buyers including Namdar Realty Group as it continued its quest to divest its U.S. portfolio coast to coast.

To read more, please visit: Costar

Florence Mall has been on the market for some time, and now a national management group has announced that “It’s sold.”

The ownership group that includes Mason Asset Management and Namdar Realty Group –– the Great Neck, New York-based partnership which leases and manages shopping centers across the country –– has announced their acquisition of Florence Mall at 2028 Florence Mall Road, in Florence.

To read more, please visit Northern Kentucky Tribune