Vintage Picks Up MA Regional Mall

LEOMINSTER, MA-Vintage Real Estate is picking up the Mall at Whitney Field, a 46-year-old regional center on 35 acres here. The Los Angeles-based firm, which acquires and redevelops underperforming retail assets, is purchasing the 700,000-square-foot property from C-III Capital, which hired Eastdil Secured this past October to market it, according to published reports.

Vintage did not disclose the purchase price, although Real Capital Analytics data indicate a contract price of $37 million. That’s less than half the $81.9 million paid by Walton Whitney Investors V for Whitney Field in May 2007, including the assumption of a $74.5-million loan. In the interim, the loan went into default and, in November 2010, foreclosure.