Castle Lanterra Properties renovated Asher, which resulted in meaningful rent premiums, provided proof of concept and substantial upside potential for the new owner at a purchase price of $70 million.

The new joint venture ABS R.D. Geronimo Valuation Services LLC will provide real estate advisory services including valuation and appraisals.

Apartment rents increased .06% year-over-year in June and were flat month-over-month.

"Given the current evolution, shopping malls are going to look different over the next 20 years – likely with smaller anchor stores, more entertainment concepts and restaurants, more experiences for shoppers, and daily service providers such as gyms, grocers, medical offices and even day care providers."