By Audrey Jensen | Phoenix Business Journal
Florida-based Concord Wilshire Capital and TLG Investment Partners have acquired the former Metrocenter Mall in Phoenix in partnership with Carl DeSantis’ CDS International Holdings Inc. to pave the way for a new mixed-use project known as the Village.
The new owners said they paid $48 million for the 64.2-acre site in January to three sellers.
The mall property was sold by Carlyle ER Metro LLC, an entity connected to New York-based retail firm Carlyle Development Group Inc. Dillard’s Properties Inc. also sold the Dillard’s store parcel, while AMERCO Real Estate Co., Phoenix-based U-Haul’s parent company, sold the former Macy’s store it bought in 2018.
The transaction was completed without mortgage financing on the property, according to the companies, which said that Greenwall Capital Management sourced and advised CDS in the sale.
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