Please reload

Investors hope weak malls, bought cheap, will make profitable flips

2.28.2017

 

 

Smart real estate investors are snapping up so-called dying malls and giving them a second chance. As undercapitalized owners lose the properties to banks, investors such as Hull Property, Cypress Equities and Time Equities Inc., are stepping in and buying properties for pennies on the dollar.

 

Malls in secondary markets are seen as the best candidates for makeovers, because of limited competition, observers say. Many of these properties just need some capital investments and renovations to reverse vacancy trends. Sometimes, de-malling is the answer. In other instances, new paint and signage might be all that's required to turn things around.

 

“We think there are somewhere between 100 and 200 malls out there that fit the general criteria” for a rehab, Chris Maguire, chief executive officer at Cypress Equities, told Bloomberg. The Dallas-based investor bought a 40-year-old regional mall in Flagstaff, Ariz., earlier this year. “They need capital, but there’s cash flowing, so you just sit and wait.”

Share on Facebook
Share on Twitter
Please reload

Institutional investors slash CRE capital budget by 19%: Report

Ashford REIT invests in 'purification' tech to create allergy-free guestrooms

REIT to build $110M facility to house immigrants rounded up by Trump

Working in style: The corporate campus designed by Frank Lloyd Wright

Hard Rock unveils plans to revamp Trump's failed Atlantic City casino

Food tenants increasingly crucial for shopping centers: Report

Retailer Finer Fields aims to merge bricks and clicks

The Gents Place 'lifestyle club' muscling into new markets

1/2
Please reload

COMMERCIAL REAL ESTATE NEWS & CULTURE

  • White Facebook Icon
  • White Twitter Icon
  • White Instagram Icon
More from Squarefootprint
Further reading

ABOUT USCONTACT • ADVERTISE • ARCHIVE

© 2017 SQUAREFOOTPRINT

  • White Facebook Icon
  • White Twitter Icon
  • White Instagram Icon