Regency Mall Purchased By NY Investors
Regency Mall, which General Growth paid $71.8M for in 1991 and dumped millions upon millions into for renovations since then, has traded at a price of $13M to some New York investors, Namdar Realty Group and Mason Asset Management. The sale includes JCPenney, Belk (moving to a new store a few miles away) and the shops; it does not include the Sears, Dillards or their parking lot pads. The mall is about 37% occupied today. Roger Bull of The Florida Times-Union has the story.