QIC Finds Buyers for Ridge Hill Property in Yonkers
Posted on 05/06/2022
Nuveen Real Estate, Taconic Partners, and North American Properties (NAP) purchased a US$ 220 million retail complex in Yonkers, New York from QIC (QIC US Management). The property is called Ridge Hill and is based in Yonkers. Ridge Hill was developed in 2011 as a 1.2 million square foot mixed-use lifestyle center with retail and office space.
LOCATION: Ridge Hill 1 Ridge Hill Blvd Yonkers New York 10710 United States.
JLL (Jones Lang LaSalle) marketed the property on behalf of the seller.
On October 3, 2017, Forest City Realty Trust Inc. agreed to sell Ridge Hill in Yonkers and nine other regional malls nationwide to QIC Ltd. The 10 malls were valued at approximately US$ 3.175 billion and Forest City’s ownership share at US$ 1.55 billion.
Other Deals
The Ridge Hill deal is the third partnership between Nuveen and NAP. Nuveen and NAP recently acquired the open-air lifestyle center The Forum on Peachtree Parkway in Peachtree Corners in Georgia.