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Swansea Mall Sold for $42 Mil

SWANSEA, MA-A Westchester,NY-based real estate investment firm has acquired the 800,000-sf Swansea Mall here for approximately $42 million.

By John Jordan | Updated on October 03, 2001

SWANSEA, MA-The Swansea Mall, an 800,000-sf enclosed regional shopping center here has been sold for approximately $42 million.

The deal was revealed by L.J. Melody & Company, a real estate investment banking firm, which reports that it arranged $37.5 million in acquisition financing for an affiliate of Carlyle Development Group of White Plains, NY. CDC Management Capital Inc. of New York City provided the financing. Abdi Mahamedi, president of Carlyle, tells GlobeSt.com that the total acquisition price for the shopping centerwas approximately $42 million. Anchor tenants include Sears, Macy’s and Wal-Mart.

Geoffrey Rice of L.J. Melody’s New York City office notes that the Swansea Mall, which originally opened in 1974, is currently about 82% leased. The facility is located off I-95 and state Routes 6 and 118 in Bristol County, Mass., nearby the Rhode Island border and the city of Providence.

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