Global invesment equity firm KKR & Co, LP and its consortium partners recently acquired Colonie Center. The New York based private equity firm had lead a consortium that bought the second biggest shopping mall in Albany, New York.
No details were disclosed as to the purchase. The purchase was done in cooperation with Colonie Pacific, the partnership of Pacific Retail Capital Partners, Peter Fair of Continuum Partners and Coilarmele Partners.
The shopping mall has a floor area of 1.3 million square feet with more than a hundred stores. The biggest retailers in the mall are Macy's, Sears and Boscov's. One of the new stores to be opened int he mall is Whole Foods as part of the Sears store.
According to Ralph Rosenberg, KKR's group head of real estate said, "The transition in ownership will be seamless for shoppers, and our goal is to make the shopping experience even better than it is today,"
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