WESTMINSTER, CO-The Orchard Town Center retail complex here has been sold for $123.5 million to Phoenix-based Vestar.
UBS Global Asset Management, of New York, is also a partner in the Orchard purchase, according to a report in the Denver Post.
The acquisition brings Vestar's management business into the Colorado market for the first time. Vestar develops, manages and acquires retail properties throughout the western states.
Orchard Town Center, which opened in April 2008, comprises more than 1 million square feet of open-air retail and entertainment space. Cleveland-based Forest City Enterprises Inc. developed and has owned most of the center since 2007.
Click Denver Post to read the full story.
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David Phillips
David Phillips is a Chicago-based freelance writer and consultant with more than 20 years experience in business and community news. He also has extensive reporting experience in the food manufacturing industry for national trade publications.
