CARMEL, CA-GlobeSt.com exclusively learns that privately held, independent real estate investment and development firm, O’Connor Capital Partners, which is based in New York City, and Wafra Investment Advisory Group, via O’Connor/Wafra Retail Partners, have acquired Carmel Plaza. The 111,781-square-foot luxury lifestyle center here marks the sixth by venture between the two firms.
Joel Bayer, president and COO of O’Connor Capital Partners, says that the firms is happy to have acquired “a truly unique asset” in what he calls “one of the most prestigious and desirable communities in Northern California.”
O’Connor Capital Partners could not disclose further pricing information, but the company did tell GlobeSt.com that the seller was Macerich. GlobeSt.com did learn from an unidentified source not involved in the deal that the price tag was $52 million.
Carmel Plaza is located at the gateway to the downtown of Carmel. The center hosts tenants like Tiffany & Co., Louis Vuitton, Bottega Venetta, J.Crew and Anthropologie as well as several high performing local tenants and restaurants.
Carmel Plaza is the only shopping center in downtown Carmel. O’Connor/Wafra Retail Partners focuses on the acquisition of high performing retail centers throughout the US.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
