NORFOLK, Va. (WAVY) – An ownership change is coming for MacArthur Center mall in downtown Norfolk.
Wednesday, Starwood Capital Group agreed to a purchase of seven malls, including MacArthur Center and Stony Point Fashion Park in Richmond.
The following seven malls are included in the deal:
- MacArthur Center (Norfolk, Va.)
- Stony Point Fashion Park (Richmond, Va.)
- Northlake Mall (Charlotte, N.C.)
- The Mall at Wellington Green (Wellington, Fla.)
- The Shops at Willow Bend (Plano, Tex.)
- The Mall at Partridge Creek (Clinton Township, Mich.)
- Fairlane Town Center (Dearborn, Mich.)
The price tag for the deal is more than $1 billion.
Starwood is a privately held global investment firm with its global headquarters in Greenwich, Conn. and manages assets of $29 billion. The malls included in the deal will be operated by Starwood’s retail operating platform, Starwood Retail Partners, with a hands-on ownership approach.
At this time, WAVY News hasn’t heard about any possible changes to MacArthur Center related to the sale.