Bridge Group Closes $60M Acquisition of Antelope Valley Mall

Bridge Group Investments and Steerpoint Capital have purchased Antelope Valley Mall in Palmdale, CA for $60 million. It’s the second Southern California mall that Bridge Group, with support from Steerpoint, has acquired in 2022, after buying The Shops at Montebello in April.

Located near several large employers, the enclosed shopping mall is anchored by Dillard’s, Macy’s and JCPenney. The two firms plan to re-tenant the vacant Mervyn’s store and enhance the property by adding elevated dining options, experiential entertainment offerings and a reimagined food court.

“Having grown our family business from a single brick and mortar store to over 170 retail locations across the country, we know what works and have confidence in Steerpoint Capital’s investment strategy,” said Bridge Group Investments’ George Mersho. “With the right approach, there is an opportunity to transform obsolete properties while generating strong financial returns.”