Business Services Industry

Three of the six malls in a 3.7 million-sf portfolio being offered by Whitehall Street Real Estate Fund are attracting interest from B-mall players: Killeen Mall in Killeen, Texas; Villa Linda Mall in Santa Fe, N.M.; and Mesilla Valley Mall in Las Cruces, N.M

Real Estate Alert, March 3, 2004

Three of the six malls in a 3.7 million-sf portfolio being offered by Whitehall Street Real Estate Fund are attracting interest from B-mall players: Killeen Mall in Killeen, Texas; Villa Linda Mall in Santa Fe, N.M.; and Mesilla Valley Mall in Las Cruces, N.M. The six malls, all in second-tier markets in the Southwest, could fetch a total of $250 million.

The buyer of Killeen Mall will likely receive an initial annual yield of 8.75%, while the other five properties will likely trade at about 9.5%. Broker Granite Partners accepted offers last week. While investors can bid on the whole portfolio, the properties are likely to be sold individually or in small groups.

COPYRIGHT 2004 Harrison Scott Publications, Inc.
COPYRIGHT 2008 Gale, Cengage Learning
 

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