L Catterton Real Estate and QIC Global Real Estate plan to reposition the shopping mall into a mixed-use complex with hotel, office, apartments and retail.
“CIG has traditionally focused on residential assets and has recently expanded its' investment criteria to include office properties,” says Gershon Alexander, principal of PAG Investments. “This acquisition will mark a foray into the office sector.”
Equus Capital Partners also announced on Thursday that an affiliate acquired a four-building office portfolio totaling 299,614 square-feet in Aurora and Denver, CO.
KKR and Banyan Street Capital are planning an additional $5 million in capital improvements that they state will address enhancements to the fitness center, retail concourse, outdoor plaza and tenant elevator landings and corridors.