Vintage Real Estate Acquires Southlake Mall

MORROW, GA—Los Angeles-based Vintage Real Estate has acquired the 1-million-square-foot foreclosed Southlake Mall here. The firm says it has immediate plans to undertake significant capital investments to bring in new tenants and restaurants and upgrade the common areas at the property.

General Growth Properties, which filed for bankruptcy in April 2009, purchased the mall in 1997 and renovated it in 1999. In 2007, General Growth Properties placed $100 million of debt on the property. The lender foreclosed on the mall in February 2013. No financial details on Vintage’s purchase of the property were released. The Southlake Mall is located at 1000 Southlake Circle and sits on a 100-acre parcel. The deal marks Vintage Real Estate’s entrance into the Georgia real estate market.