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.
Posted on June 6, 2014, in Development, Shopping Centers/Retailers, Transactions and tagged carter, deutsche, Roger Bull, rreef, sale, simon, St. Johns Town Center. Bookmark the permalink. Leave a comment.