**Legacy West Retail Property Sold to Kite Realty and GIC for $785 Million**
Legacy West, known as the largest mixed-use property in North Texas since its opening in 2017, has been sold for $785 million. The retail portion of the property was acquired by Kite Realty Group in partnership with GIC, a Singaporean sovereign wealth fund.
The seller in the transaction was Invesco. Prism Places and Open Realty Advisors were also involved in the deal. According to Prism Places, this marks the largest mixed-use asset transaction in the Dallas-Fort Worth (DFW) market to date. Retail occupancy at Legacy West remains high, with levels reported above 95%.
The property’s tenant lineup includes luxury and high-end retailers such as Louis Vuitton, Tiffany, Gucci, Tory Burch, Watches of Switzerland, Aritzia, Lululemon, Chanel Beauty, Ralph Lauren, and Vuori.
Located at 5908 Headquarters Drive, Legacy West spans 1.2 million square feet. The development features 415,000 square feet of retail, restaurant, and office space, a 55,000-square-foot food hall, over 1,300 residential units, and a 303-key Renaissance Hotel.
Kite Realty Group is a publicly traded real estate investment trust (REIT) that owns interests in 180 open-air shopping centers and mixed-use properties across the United States.
