Sale of West Oaks Mall in Houston closed by HFF

HOUSTON, TX – The Houston office of HFF (Holliday Fenoglio Fowler, L.P.) has closed the sale of West Oaks Mall, food court (photo below) a five-anchor, super regional mall in Houston, Texas.

HFF senior managing directors Robert Williamson (top right photo)  and Rusty Tamlyn (top left photo)  represented special servicer LNR Partners, Inc. in the sale of West Oaks Mall, which they acquired in 2008 through foreclosure. Pacific Retail Capital Partners, LLC purchased the property for an undisclosed amount free and clear of debt.

West Oaks Mall is located at the intersection of Westheimer Road and State Highway 6 in west Houston. The sale included the in-line shop space, an outparcel site and two of the five anchor stores (Sears and former Steve & Barry’s), totaling 505,236 square feet of the mall’s 1,082,836 square feet. Excluded from the sale were Macy’s, Dillard’s and a vacant department store that formerly housed JC Penney.

“West Oaks Mall is located in the heart of desirable far west Houston and is primed to regain its former stature now that it is back in the hands of a seasoned operator of regional malls,” said Williamson.

LNR Partners is one of the largest special servicers of CMBS loans in the U.S. and is part of privately-held LNR Property Corporation based in Miami Beach, Florida.

Pacific Retail Capital Partners is a privately-held operator of retail properties with a focus on turning around troubled assets. Pacific Retail Capital Partners is headquartered in Los Angeles.

Contacts:

Robert Williamson, HFF Senior Managing Director, (713) 852-3500, rwilliamson@hfflp.com
Rusty Tamlyn, HFF Senior Managing Director, (713) 852-3500, rtamlyn@hfflp.com
Kristen M. Murphy, HFF Associate Director, Marketing, (713) 852-3500, krmurphy@hfflp.com