Developer Sells His Half of St. Johns Town Center

Ben Carter, the Atlanta developer that created St. Johns Town Center with partner Simon Property Group, has sold his 50% interest in the mall to RREEF, part of Deutsche Bank’s Asset & Wealth Management Group.  The reported price was $375M, which works out to a total asset price of $750M, and a remarkable 4.1% range; though keep in mind the pricing did include some additional land for development.  Roger Bull of The Florida Times-Union has the story.

About scottrogersjax

30 years' in commercial real estate investment sales, banking, mortgage banking, and valuation. Trained and schooled in Atlanta, and now heading the Investment Sales Team in the Colliers Jacksonville office.

Posted on June 6, 2014, in Development, Shopping Centers/Retailers, Transactions and tagged , , , , , , . Bookmark the permalink. Leave a comment.

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