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DJM Exits Stake in Huntington Beach’s Bella Terra; PGIM Now Sole Owner
DJM Capital Partners has sold its 25% ownership interest in Bella Terra, a mixed-use open-air shopping, dining, entertainment and residential lifestyle center in Huntington Beach, after a 20-year hold. PGIM Real Estate is now sole owner of the property. Although terms were not disclosed, the partners reportedly sought to sell the Orange County retail property last year at an asking price of $300 million.
“It is with pride that we sell our stake in Bella Terra, marking the end of a successful 20-year run as part owner and custodian of the property,” said Lindsay Parton, president of DJM Capital. “Our team’s vision and sustained commitment has transformed Bella Terra into a vibrant hub for Huntington Beach and beyond. We leave its incredible tenants and guests in PGIM’s very capable hands.”
During its tenure as co-owner, DJM transformed Bella Terra from an indoor mall to an outdoor lifestyle destination; added landmark features like Costco and The Residences at Bella Terra, with 467 apartments; and executed more than 100 leases, achieving a 92% occupancy rate.
- ◦Sale/Acquisition
