Namdar, Mason Announce Retail Redevelopment Plan

Namdar Realty Group and Mason Asset Management are set to embark on a redevelopment pipeline in 2024, with plans for eight pending deals and an additional 40 properties earmarked for redevelopment. This initiative spans 1,500 acres across 17 states, with an additional focus on 25 self-storage opportunities.

Their strategy revolves around leveraging an all-cash position to maximize flexibility in determining the best use for each property, ensuring value for the community and long-term viability. The current deals will introduce 2,112 multifamily units, 360,000 square feet of self-storage, and 160,000 square feet of industrial warehouse space across 103 acres once completed.

“We’re currently seeing the most opportunity in workforce housing and active adult (55+) communities, as well as out parcel conversions into self-storage facilities,” said Dan Dilmanian, COO of Namdar Realty Group. “We understand that demand is market specific, however, and remain open to all types of redevelopment for the properties we’ve identified.”

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Dan Dilmanian

About Emily Fu

Emily Fu is Content Director of Connect Commercial Real Estate, where she covers the east coast markets, including New York, Boston & New England, and DC & Mid-Atlantic markets. She produces daily news stories as well as longer-form content, ranging from Q&As to thought-leadership pieces. She also writes feature stories for Connect Money. With previous stints at Reuters, Seeking Alpha, and Commercial Observer, Emily has covered the finance side of the commercial real estate industry, technology, media, telecom (TMT), and fashion. She attended the Columbia Graduate School of Journalism and currently resides in Manhattan.

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