Northbrook, Ill. -- StreetMac Asset Managers announced that an affiliate has purchased the Brazos Mall in Lake Jackson, Texas, and the Shawnee Mall in Shawnee, Okla., through a joint venture with an affiliate of Stamford, Conn.-based Five Mile Capital Partners. The seller was Lightstone Properties.
The two malls have a combined 1.14 million sq. ft. of leasable retail space. Terms were not disclosed. The acquisitions represent StreetMac’s inaugural purchases of retail malls in markets nationwide.