Signs at the former Westfield Meriden mall were covered with temporary signs Thursday reflecting a recent change in ownership and a new name.
The Namdar Realty Group paid $12.5 million for the former Westfield Meriden mall in a cash transaction last month.
The Westfield Meriden purchase is among seven Namdar made this year, bringing its total portfolio to more than 55 malls across the country, primarily in the Northeast, the Midwest and the South. Namdar has a strategy of purchasing average to lower performing malls and leasing them at low rents to maintain tenants, according to media reports.
Namdar also owns the Enfield Mall and recently won town approval to subdivide the struggling center to attract tenants. Company officials said they are currently working on a strategy to improve the Enfield mall and will reveal details when they are available.
To read about city officials concerns over the relatively low purchase price click here.