CARLSBAD — One of the region’s largest malls has been sold.
The Shoppes at Carlsbad was acquired by Steerpoint Capital and SteelWave for $71.5 million from Brookfield Asset Management, according to a press release announcing the deal on Sept. 23. The deal, according to Jason Jaffe, director of Leasing and Asset Strategy at Steerpoint, was for 727,000 square feet of the total 1.1 million.
The new ownership group paid $98 per square foot, while other malls in Southern California have recently sold for between $130 to $158 per square foot, per media reports. Archway Capital is providing a $42.9 million loan with $4 million earmarked for investment.
The deal excluded anchor tenants such as Macy’s and JC Penney……
