Oakland Mall may join Fairlane Town Center as second mall selling this month
If it finalizes, it could be the second suburban mall to change hands in March. Fairlane Town Center in Dearborn is also expected to sell this month to unknown new ownership for an unknown price, Crain’s reported last week, after its existing owner fell behind on $161 million in commercial mortgage-backed securities debt secured by Fairlane and two other malls.
Most recently, Kiezi’s investments have been centered in Detroit, where he was part of an ownership group that had owned the Park Avenue House building at 2305 Park Ave. after buying it for $13.5 million. The group also included MHS Group founder Mike Abdulnoor and L.A. Insurance founder Anthony Yousif. They had planned to turn the building into a $50.3 million, 172-room Hilton-branded Tapestry hotel but sold it last year to an affiliate of Sturgeon Bay Partners LLC, based in Detroit.
Posted By: Crain’s Detroit Business on March 7, 2022. For more information, please click here to read the source article.
To receive the In The Know from Signature Associates, please click here to be added to our mailing list.
« Back to Insights