trending Market Intelligence /marketintelligence/en/news-insights/trending/igk2bibex_obvnqlymcdaw2 content esgSubNav
In This List

HomeFed, JZ Capital team up for mall project in NYC

Blog

Japan M&A By the Numbers: Q4 2023

Case Study

An Investment Bank Taps S&P's Real Estate Modeling Expertise

Blog

FIMA EUROPE 2023: Exploring the Intersection of Data, Governance, and Future Trends in Finance

Podcast

Private Markets 360° | Episode 8: Powering the Global Private Markets (with Adam Kansler of S&P Global Market Intelligence)


HomeFed, JZ Capital team up for mall project in NYC

Carlsbad, Calif.-headquartered property developer and investor HomeFed Corp. is partnering with London-listed fund JZ Capital Partners Ltd. to develop the latter's Fulton Mall development in Brooklyn, N.Y.

As part of the joint venture, HomeFed purchased a minority interest in the 15-property assemblage for roughly $52.5 million, of which $40.3 million is attributable to JZ Capital, according to a release. The stake was priced in accordance with the mall's net asset value.

The retail development spans upward of 540,000 square feet of buildable space and will be developed by the duo, together with JZ Capital's real estate operating partner, RedSky Capital LLC.