A partnership of two, family-owned investment firms, which has acquired dozens of malls and shopping centers across the country in the last decade, has purchased a second mall in Connecticut, the struggling Westfield Meriden mall.
Namdar Realty Group and Mason Asset Management, both of Great Neck, N.Y., acquired the 900,000-square-foot mall on Lewis Avenue Friday from Unibail-Rodamco-Westfield, which has owned it since 1994. Financial terms of the transaction weren’t disclosed.
The acquisition comes as some analysts have predicted a rocky road ahead for some shopping malls in the wake of the COVID-19 pandemic, which closed stores for weeks and forced some bigger retailers to file for bankruptcy or slash costs.