Record-setting Wellington mall deal closes

Starwood completes $341 million purchase as part of $1.4 billion portfolio buy

TRD MIAMI /
Oct.October 27, 2014 09:45 AM

Starwood Capital Group closed on its record-setting acquisition of the Mall at Wellington Green in Wellington as part of a $1.4 billion portfolio purchase.

Greenwich, Conn.-based Starwood paid $341 million for the 1.3-million-square-foot mall, which is one of seven the company bought from Taubman Centers. The transaction included stores anchored by City Furniture and Nordstrom, but not buildings owned by Dillard’s, J.C. Penney and Macy’s. Starwood picked up 57.5 acres in the deal.

“We look forward to strengthening our relationships with the properties’ anchors and tenants, welcoming new employees to our growing family, and working closely with all stakeholders to ensure that these shopping centers are the dominant retail destinations within their trade areas,” Starwood Retail Partners president and CEO Scott Ball said in a statement cited by the South Florida Business Journal.

Palm Beach County’s property appraiser office said the $341 million sale price is the most expensive recorded by the county. [South Florida Business Journal]Eric Kalis


Related Articles

arrow_forward_ios
Glenn Straub and the Palm Beach Polo and Country Club property (Credit: Google Maps)

Glenn Straub sells piece of Wellington polo club after failed development attempt

Daily Digest Miami

How Epstein hid ownership of second island, CK Holding Group buys Miramar retail: Daily digest

Daily Digest Miami

Felix Cohen buys two vacant lots on North Bay Road, Controversial Walmart site in Midtown Miami sells for $26M: Daily digest

Daily Digest Miami

Alleged Russian fraudster is co-owner of condo project in Chapter 11, Miami Design District property under contract: Daily digest

Fritz Kundrun and 4481 Garden Point Trail (Credit: Realtor)

Trust tied to coal mining magnate buys 27-acre Wellington horse farm

Bill Gates and his Wellington properties

Trust tied to Bill Gates drops $21M on Wellington horse farm

Steve Van Andel and 4381 South Road in Wellington (Credit: Zillow)

Multi-level marketing mogul sells Wellington estate for $13M

Palm Beach County property appraiser Dorothy Jacks, Barry Sternlicht and the Mall at Wellington Green

Loss of Nordstrom at Wellington mall drags taxable value down by as much as $50M

arrow_forward_ios