After a successful 20-year partnership, DJM Capital Partners has recently sold its 25% ownership stake in Bella Terra. The mixed-use open-air center, located in Huntington Beach, is now solely owned by PGIM Real Estate. While the terms of the sale were not disclosed, it was reported that last year the partners had listed the Orange County retail property for $300 million.
Lindsay Parton, president of DJM Capital expressed pride in selling their share of Bella Terra and bringing an end to their two-decade involvement as co-owner and caretaker of the property. Under their leadership and dedication, Bella Terra has been transformed into a thriving hub for shopping,dining,and entertainment not only for Huntington Beach but also beyond. With confidence in PGIM’s capabilities,the team leaves behind an exceptional group of tenants and guests.
During its time as co-owner,DJM played a significant role in shaping Bella Terra into what it is today- from converting it from an indoor mall to an outdoor lifestyle destination,to introducing iconic features such as Costco,and constructing The Residences at Bellaterra which boasts 467 apartments.Additionally,DJM successfully negotiated over one hundred leases,resultinginan impressive occupancy rateof92%. Now with sole ownership,PGRIM will continue to build upon this strong foundationand further enhanceBellaTerra’s successasoneofHuntingtonBeach’s premier destinations.
