Starwood Capital Acquires Southlake Mall, 6 Other Malls

19 Nov

by Ken Davidson

Starwood Capital Group, a private investment firm, announced that it has acquired a majority interest in 7 malls from Sydney, Australia based Westfield Group.  Local Westfield Southlake Mall was included in this purchase agreement.  Starwood has announced that they will drop the Westfield name from the mall and it will revert to the original name, Southlake Mall.  In a statement, the company indicated the transaction would lead to new investment in the malls:

"We are excited to be acquiring a portfolio of regional malls that are dominant and
well positioned within their respective submarkets, and which feature strong anchor
and inline sales performance," said Jeff Shuster, Vice President at Starwood Capital
Group. "This transaction offers our investors an opportunity to generate attractive
risk-adjusted returns. We plan to invest fresh capital across the portfolio to
improve the assets, attract new tenants and position the malls to continue to best
serve their local communities."

The other malls acquired are:

  • Belden Village Mall in Canton, OH
  • Capital Mall in Olympia, WA
  • Franklin Park Mall in Toledo, OH
  • Great Northern Mall in North Olmsted, OH
  • Parkway Plaza in El Cajon, CA
  • Plaza West Covina in West Covina, CA.

One Response to “Starwood Capital Acquires Southlake Mall, 6 Other Malls”

  1. Lori Vorkapich via Facebook November 19, 2013 at 3:28 pm #

    they are supposed to rename it back to “southlake mall” they changed the sign already by the Mississippi street entrance and they are gonna change the water tower over by Gander Mtn

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