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Centennial and Atlas Hill RE Acquire Annapolis Mall
Centennial, along with industry veteran Sandeep Mathrani, founder of Atlas Hill RE and former CEO of GGP and vice chairman of Brookfield Properties, together with other industry partners, acquired Annapolis Mall, a super-regional shopping center located within the greater Washington, D.C., market in Annapolis, Maryland. Terms of the deal were not disclosed.
“Ideally located in Maryland’s famed Chesapeake Bay region, and with no other enclosed shopping centers within a 25-minute drive, our short-term focus will be on enhancing the tenant mix through careful remerchandising efforts that will elevate the shopping experience,” said Steven Levin, founder and CEO of Centennial.
The deal is a collaboration with other strategic partners, including Waterfall Asset Management and Lincoln Property Company. “Annapolis Mall checks all of the boxes of a best-in-class retail asset with the center’s high sales volume and robust tenancy in an affluent, growing trade area; its limited competition; and the ability to add a residential community at the center of Annapolis,” added Mathrani.
Photo credit: Rick Brady
