May
25
Foreign Investor Acquires Long Island Shopping Center
ByServicers LNR Partners, a subsidiary of Starwood Property Trust, and C-III Asset Management sold The Mall at the Source and the adjoining Fortunoff Building for $92 million.
The Mall at the Source and the adjoining Fortunoff Building, encompassing an aggregate 723,300 square feet of space in Westbury, N.Y., have just come under new ownership. HFF—acting on behalf of special servicers LNR Partners LLC, a subsidiary of Starwood Property Trust Inc., and C-III Asset Management LLC, representing a REMIC trust—sold the Long Island mall and attached vacant retail anchor to an unidentified private foreign buyer for $92 million…
