RCB Equities and Real Estate Development Associates, LLC (REDA) have joined forces to purchase the Puente Hills Mall in City of Industry for $115 million. The JV was represented by a JLL Capital Markets team led by managing director Mark Wintner, who secured a non-recourse loan through Hankey Capital with a three-year term and floating interest rate.
Located at 1600 S Azusa Ave., this iconic mall gained recognition as the fictional Twin Pines Mall in the original Back to the Future movie almost four decades ago. With its prime location in Los Angeles County, spanning over one million square feet and being 50 years old, it presents an exciting opportunity for redevelopment into various uses.
“We are thrilled about collaborating with REDA and TA Group as well as working closely with City of Industry to revitalize this mall into an asset that will be embraced by the community,” stated Brian Dror, principal at RCB Equities.
