Namdar Realty Group purchased Acadiana Mall on January 16, a release from the company states.
Last year, a foreclosure was imminent after the company that owned the property defaulted on a large loan.
The Current posted a story with more details on the sale and the history, as well as the news that a lease had been signed for H&M to come to the mall.
The mall, constructed in 1979, has suffered from the closure of several stores in the past couple of years. To see our stories on the most recent closures.
According to their website, Namdar Realty Group is a privately held, commercial real estate investment firm, owning and managing over 39 million square feet of commercial real estate throughout the United States. Founded in 1999, Namdar started with a single acquisition of a small retail storefront in Long Island, NY.
“It has since thrived to become one of the fastest growing private real estate investment firms in the country,” the website states. “It is continuing to grow at an unprecedented rate, averaging over 20 acquisitions annually over the last 4 years, consisting primarily of large retail malls, shopping centers, office and medical buildings.”
Namdar Realty Group has more than 1,000 employees nationwide, the site states.
We’ve reached out to the company for a statement, but haven’t heard back yet.