NY investment firm will own both Colorado Springs malls
COLORADO SPRINGS — A New York investment firm that already owns The Citadel mall in Colorado Springs is also buying the Chapel Hills Mall.
The Colorado Springs Gazette reported that the transaction is supposed to close this week. It comes at time when the Chapel Hills Mall owner, Garrison Investment of New York, was under pressure because of a foreclosure of the mall property. Namdar Realty Group is the company that will own both malls.
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COLORADO SPRINGS — A New York investment firm that already owns The Citadel mall in Colorado Springs is also buying the Chapel Hills Mall.
The Colorado Springs Gazette reported that the transaction is supposed to close this week. It comes at time when the Chapel Hills Mall owner, Garrison Investment of New York, was under pressure because of a foreclosure of the mall property. Namdar Realty Group is the company that will own both malls.