GAITHERSBURG, MD-The Washington Post reported that Five Mile Capital Partners, a Stamford, Connecticut-based asset management firm, has acquired the Lakeforest Mall located in Gaithersburg last week after its previous proprietors defaulted on loan payments. The firm paid approximately $100 million for the mall.
A source said that Five Mile Capital Partners is planning to invest $20 million in improvements to revamp the mall and probably add big-box stores to the surrounding parking lots. For the full story, go to Baltimore Business Journal .
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