Joint venture pays $60M to acquire Milford mall after loan default

TRD New York /
May.May 02, 2019 03:12 PM

In New Haven County, the Milford Crossing Shopping Center has a new owner, the New Haven Register reported. Seattle-based real estate company Bridge33 Capital and New York-based Waterfall Asset Management have reportedly agreed to pay $59.6 million to purchase the mall, which was owned by Miami Beach-based LNR Partners. JLL brokered the sale. The 371,537-square-foot shopping center in Milford, located between Bridgeport and New Haven, is currently 98 percent leased. It includes stores such as Barnes & Noble, HomeGoods, Petco, Staples and Walmart. A spokesperson for Bridge33 Capital told the Register that the new owners of the 47-acre site “definitely want to keep our existing tenants.” Bridge33 and Waterfall Asset Management acquired the mall through an online auction after a previous owner defaulted on its loan, the outlet reported. [New Haven Register]


Related Articles

arrow_forward_ios
Placeholder image

Phase-two planning kicks off at $500M development in Hyde Park

Phase-two planning kicks off at $500M development in Hyde Park
Placeholder image

Bank claims DMX ‘abused’ bankruptcy system to nix Mt. Kisco home foreclosure

Bank claims DMX ‘abused’ bankruptcy system to nix Mt. Kisco home foreclosure
Placeholder image

Danbury power company snaps up Bridgeport energy plant for $35.4M

Danbury power company snaps up Bridgeport energy plant for $35.4M
Placeholder image

Newmark Knight Frank completes 4 office leases in Greenwich and Stamford

Newmark Knight Frank completes 4 office leases in Greenwich and Stamford
Placeholder image

Former Carnegie estate modeled after Scottish castle hits market at $14M

Former Carnegie estate modeled after Scottish castle hits market at $14M
Placeholder image

Sandra Lee, NY Gov. Andrew Cuomo list New Castle home for $2.3M

Sandra Lee, NY Gov. Andrew Cuomo list New Castle home for $2.3M
Placeholder image

Fairfield County malls seek to adapt in light of retail’s ‘Amazon effect’

Fairfield County malls seek to adapt in light of retail’s ‘Amazon effect’
Placeholder image

Affordable assisted living facility proposed in Mount Vernon

Affordable assisted living facility proposed in Mount Vernon
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...