But when the new owner took a closer look after the sale, it found things were not as they appeared. Founded in 1999, Namdar started with a single acquisition of a small retail storefront in Long Island, NY. We earn $400,000 and spend beyond our means. The Long Island, New York-based real estate investment firm has about 54 million square feet across the country. And then theres reality, said Alexander Goldfarb, managing director senior and REIT analyst for Piper Sandler, who declined to comment on Namdar in particular. Create an account or sign in to continue with your reading experience. Melrose set to keep tight grip on GKN spin-off,The demerger will be the latest move by Melrose after it snapped up engineering giant GKN for 8.1billion in a viciously fought takeover in 2018. Menu. But as online shopping grew and consumer habits changed, many malls found themselves plagued by dwindling foot traffic and rising bankruptcies. Namdar is an absentee landlord with a reputation as a slumlord, the home furnishings stores complaint reads. That comes on top of complaints against Namdar and its sister company, Mason Asset Management, from local officials and residents in several regions. In addition to buying properties, the company has acquired potential tenants. The formula for Namdar Realty Group and partner firm Mason Asset Management is to recruit down-market retailers to fill vacancies while holding down costs by limiting debt and capital-improvement spending. At the now-shuttered Phillipsburg Mall in New Jersey, following a heavy rain in 2018, the roof of a vacant Sears collapsed, bringing a water pipe down with it, according to police reports. Namdar ultimately traded the property to ML Holdings for $25.5 million. Meyer Silber, an attorney for ML Estate, declined to comment. Igal Namdar, owner of Namdar Realty Group, paid $2.5 million Feb. 28 for the 26-year-old mall at the intersection of Jake Alexander and Statesville boulevards. In building an empire of 268 properties in 35 U.S. states most prominently aging malls in small cities Namdar has accumulated a personal net worth of about US$2 billion, according to the Bloomberg Billionaires Index. About $4.6 billion of U.S. shopping center debt has been pegged to likely deed-in-lieu of foreclosure events, liquidations or real estate owned (REO) properties, according to a list compiled by Bill Petersen, co-founder of CREDiQ, a commercial real estate analytics firm. Namdar Group is a family owned and operated real estate investment and development firm headquartered in New York, since 1979. Their first purchase, in 2012, was the DeSoto Square Mall in Bradenton, Fla., after Simon defaulted on the debt. Lately, the team has been moving up in quality. In part, thats because financials could continue to head downhill for many lower-quality mall owners. ; Filed: 12/10/2019; Received: 12/10/2019, DocketNOTICE OF DISCOVERY AND INSPECTION Supplemental Notice of Medical Exchange & Disclosure of Expert Witness; Filed By: Shein, J. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. Namdar Realty Group owns eight malls in Illinois, including the Ford City Mall in Chicago, according to its website. Namdars spokesperson said the company has worked diligently to repair the storm drain and any remaining issues surrounding the collapse. Last year, Namdar bought 12 more and Mason added eight. Properties that are marked for redevelopment are few and far between, so we maintain our assets.. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. Musk Made a Mess at Twitter. Even Simon Property, which has one of the best balance sheets in the business, saw its net income fall to $145.9 million in 2020s third quarter from $544.3 million in the same period a year earlier. Bakalar said the timing of Namdar's acquisition comes as the town prepares to embark on a market study worth up to $350,000. Joy Wiltermuth is a news editor and senior markets reporter based in San Francisco. Some may die a slow death as stores are shuttered one by one. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. Updated at at 11:28 p.m. on Feb. 18, 2022 with Brad Namdar's response to the Secretary of State.. Dallas congressional candidate Brad Namdar's business has been suspended from a state anti . [5][7] The companies also work with Uber Capital Group LLC and Gorjian Acquisitions to acquire properties. Los Angeles, CA 90071 Term Loan6 Pacific Investment Management Company LLC 650 Newport Center Drive Newport Beach, CA 92660 Namdar and the subsidiaries said they would fix the air conditioning and leaking problems, but allegedly never did so. Thats what these ETF managers are aiming for with an AI-aided strategy. The price was half of the $50 million. Is it where my wife would shop? Nassim said about their properties. NOTICE OF WITHDRAWAL OF MOTION / ORDER TO SHOW CAUSE, AFFIDAVIT OR AFFIRMATION IN OPPOSITION TO ORDER TO SHOW CAUSE, RJI -RE: REQUEST FOR PRELIMINARY CONFERENCE, Cases involving other agreements or torts not classified elsewhere, 190, 1190, 2190, 3190, 4190, 4194, 5190, 5196, World Properties LLC et al - v. - Namdar Realty Group LLC, NOTICE OF WITHDRAWAL OF MOTION / ORDER TO SHOW CAUSE (Motion #3) Notice of withdrawal of Order to Show Cause without prejudice; Filed By: Gomberg, T.; Filed: 03/27/2019; Received: 03/27/2019, NOTICE OF WITHDRAWAL OF MOTION / ORDER TO SHOW CAUSE (Motion #002) Notice of withdrawal of motion without prejudice; Filed By: Gomberg, T.; Filed: 03/27/2019; Received: 03/27/2019, EXHIBIT(S) - D (Motion #3) Complaint; Filed By: Schimek, M.; Filed: 02/26/2019; Received: 02/26/2019, EXHIBIT(S) - C (Motion #3) 190124 Letter; Filed By: Schimek, M.; Filed: 02/26/2019; Received: 02/26/2019, EXHIBIT(S) - B (Motion #3) 190103 Letter; Filed By: Schimek, M.; Filed: 02/26/2019; Received: 02/26/2019, EXHIBIT(S) - A (Motion #3) 181205 Letter; Filed By: Schimek, M.; Filed: 02/26/2019; Received: 02/26/2019, AFFIDAVIT OR AFFIRMATION IN REPLY (Motion #3); Filed By: Schimek, M.; Filed: 02/26/2019; Received: 02/26/2019, AFFIDAVIT OR AFFIRMATION IN OPPOSITION TO ORDER TO SHOW CAUSE (Motion #3) Affirmation in Opposition to Proposed Intervenor's OSC; Filed By: Hirschel, D.; Filed: 02/20/2019; Received: 02/20/2019, EXHIBIT(S) - E (Motion #3) Medical Record Redacted per 22 NYCRR 202.5(e); Filed By: Gomberg, T.; Filed: 01/24/2019; Received: 01/24/2019, EXHIBIT(S) - D (Motion #3) Mold Intrusion Report; Filed By: Gomberg, T.; Filed: 01/24/2019; Received: 01/24/2019, NOTE OF ISSUE:WITH JURY *Corrected* Note of Issue (with Jury); Filed By: Hirschel, D.; Filed: 08/30/2018; Received: 09/03/2018, STIPULATION - SO ORDERED; Filed By: Court User; Filed: 06/12/2018; Received: 06/12/2018, ORDER - CERTIFICATION; Filed By: Court User; Filed: 06/11/2018; Received: 06/11/2018, NOTICE OF DISCOVERY AND INSPECTION Notice of Discovery and Inspection; Filed By: Hirschel, D.; Filed: 09/29/2017; Received: 09/29/2017, ORDER - PRELIMINARY CONFERENCE; Filed By: Court User; Filed: 09/21/2017; Received: 09/21/2017, ADDENDUM - GENERAL (840A); Filed By: Hirschel, D.; Filed: 07/26/2017; Received: 07/26/2017, RJI -RE: REQUEST FOR PRELIMINARY CONFERENCE; Filed By: Hirschel, D.; Filed: 07/26/2017; Received: 07/26/2017, PRELIMINARY CONFERENCE REQUEST Request for Preliminary Conference; Filed By: Hirschel, D.; Filed: 07/26/2017; Received: 07/26/2017, ANSWER; Filed By: Emouna, M.; Filed: 07/26/2017; Received: 07/26/2017, SUMMONS + COMPLAINT Summons and Complaint; Filed By: Hirschel, D.; Filed: 05/04/2017; Received: 05/04/2017. The companies were sued in 2017 by a tenant, International Dcor Outlet, who claimed the owners failed to properly maintain and repair the property. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. If the only thing you know about sports is who wins and who loses, you are missing the highest stakes action of all. We have enabled email notificationsyou will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Namdar has also been sued by retailers, including International Decor Outlet, which in 2017 accused the landlord of contract breaches such as malfunctioning air conditioning, substandard repairs and inadequate security at the Regency Square Mall in Jacksonville, Fla. Kohan purchased the Jamestown Mall in 2009 for $3.3 million. He raised the possibility that another owner might not keep some of Namdars malls open at all. ; Filed: 01/24/2020; Received: 01/24/2020, DocketNOTICE OF DISCOVERY AND INSPECTION to Second Third-Party Defendant; Filed By: Shein, J. The financial issues tied to struggling U.S. malls already runs into the billions. the Gap Inc They're being sued by International Dcor Outlet, which was supposed to bring life to an entirely-empty corridor of the mall but is claiming the mall's owners lied about its condition. ; Filed: 02/20/2018; Received: 02/20/2018, ANSWER; Filed By: Shein, J. In New York City, malls lost half a year to the pandemic before being permitted to reopen in September. Given that the property was slated for a redevelopment and ultimately would be demolished, this accelerated the plans for the building, the spokesperson noted. But almost anything below Class A, there really has been no bid for, except for the Namdars of the world. Case Details Parties Documents Dockets Namdar and Empire bought the 13-story, 64-year-old 830 Third Ave. office building for $72M this month after acquiring 345 Seventh Ave., which is 24 stories high and more than 90 years old, for . 201 : Jury Demanded By: Plaintiff A purchase price was not disclosed. Single Family Residential. Single Family Residential. Defendant, Namdar Realty Group, LLC1, appeals as of right the stipulated order dismissing Igal Namdar, in his personal capacity, as a defendant, and closing this case under MCR 2.602(A)(3). [2][3][6], Namdar and Mason primarily purchase malls for low prices, with various problems, but do not invest in improving them. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. The business owners that power this multibillion dollar industry are changing, and a new era of the business of sports is underway. More Jersey City News -- Have something to add to this story? Nassim and Namdar are frequent partners in shopping malls, Reuters reported in June of 2018. ; Filed: 01/24/2020; Received: 01/24/2020, DEMAND FOR: Supplemental Demand fro Authorizations; Filed By: Shein, J. A peek into the mysterious, 'reluctant' head of Canada's richest family, Jeff Bezos just lost $13.5-billion thanks to Amazon's disappointing earnings, Who's Pan Dong? For over three generations, Namdar Group has grown into a premier, full-service commercial real estate development, construction and management company serving urban core markets throughout the United States and the Caribbean region. The damage may be causing water to infiltrate the citys sewer system, according to emails between town officials sent throughout 2020 provided to TRD. Namdar had verbally agreed to lower rents for store owners, in some cases to as little as 25 percent of what was reported in leases, while others had been allowed to stay rent-free to prop up occupancy rates, according to the complaint. U.S. mall values have plunged 46 per cent from their 2017 peak, including an 18 per cent drop since the COVID-19 pandemic started, according to real estate information service Green Street. Namdar and Nassim make no pretense of catering to luxury consumers. Those As get to be too crazy. Case Number: 1:2023cv01044. Like dozens of other traditional malls, the Acadiana Mall has seen its share of struggles in recent years. As we build our portfolio, we want to constantly improve the quality by having better assets.. [15] Namdar and Mason purchased most of the bankrupt Goodrich Quality Theaters chain in July 2020. ; Filed: 12/11/2019; Received: 12/11/2019, DEMAND FOR: Further Demand for Authorizations; Filed By: Shein, J. A spokesperson for Namdar said it is actively working to fix the property. Their first purchase, in 2012, was the DeSoto Square Mall in . Copyright 2023 MarketWatch, Inc. All rights reserved. The pandemic also isnt over yet, including in the U.S., where COVID hospitalizations have been climbing, despite widespread availability of vaccines for adults, raising concerns around the recovery. Instead, Namdar Realty Group, based in Great Neck, N.Y., is accused in a pair of lawsuits of failing to invest in Regency Square's most basic maintenance, resulting in leaky roofs, broken electrical systems, and a roach infestation that have kept tenants from moving in. Law360; Law360 UK . namdar. I would say its been more about maintaining, not enhancing, he said. It would have required a substantial investment, and I think their model is the opposite of that.. View 17319 NW 63rd Ct, Hialeah, FL real estate investment calculator for traditional & Airbnb rental properties. Namdar, through Namco Realty Ltd, also a few years ago raised millions in Israel by selling bonds tied to his properties. ", "Company Overview of Namdar Realty Group LLC", "Owner of former Echelon Mall, called 'slumlord' in Fla., taps overseas cash to become nation's biggest mall buyer", "N.J. mall sold for half price to company that already owns a dying mall", "What happened to the Phillipsburg Mall? Namdar Realty Group LLC and Igal Namdar: Case Number: 2:2020cv05649: Filed: November 19, 2020: Court: US District Court for the Eastern District of New York: Presiding Judge: Edward R Korman: Referring Judge: Anne Y Shields: Nature of Suit: Labor: Fair Standards: Cause of Action: 29 U.S.C. Other stores have also closed, including the Gap, Gap Kids, Banana Republic and New York and Company. Its an economic drain on us because theyre not reinvesting and its a moral drain on the community, watching something that was once a vibrant center for the community falling into disrepair.. . The development has an estimated cost of . The Ferraris of the world thats not the kind of car were looking for., _____________________________________________________________. Last year, federal court proceedings began after CBL defaulted on more than $125 million in loans. He characterized the port authority's path to buying the property from an affiliate of Namdar Realty Group of Great Neck, New York, in the simplest terms: "Nothing was happening here. Gated Community of The Moors in Miami Lakes. Most of the [malls] are built in prime locations, Igal said. But what really sets them. ; Filed: 03/12/2018; Received: 03/12/2018, DocketAFFIRMATION/AFFIDAVIT OF SERVICE; Filed By: Shein, J. LONG ISLAND'S FINEST LANDSCAPING AND CONSTRUCTION CORP. JEFFREY S SHEIN (0218-3640-RLI) FRANK A. POLACCO, RESPONSE TO DEMAND For Bill of Particulars; Filed By: Mccarthy, B.; Filed: 03/03/2020; Received: 03/03/2020, RESPONSE TO DEMAND Response to Notice for Discovery & Inspection (of Northeastern Flooring & Construction, Inc.); Filed By: Shein, J. For Namdar, that smells like opportunity. In the meantime, a judge assigned Spinoso Real Estate Group to manage the mall while the case proceeded. The lawsuit was later voluntarily dismissed. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. +1.17% A local mall representative could not comment on Namdars plans. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. RELATED:Police arrest suspect in Christmas Eve mall shooting. Namdars bet is that he can pay a small enough price to outrun the decline. That time is vital now as they navigate the heavy turbulence of the pandemic. The Acadiana Mall was owned by CBL Properties for several years. There was an error, please provide a valid email address. AEO, Namdar also recently hired a director of redevelopment with plans to repurpose some of the partnerships properties. malls? Namdar Group is adding 26 Van Reipen Avenue and 626 Newark Avenue to a pipeline that includes a 20-story rental at 26 Cottage Street, and a combined six new towers designed by C3D Architecture. By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, [5][7], Namdar and Mason often charge lower rent to keep mall vacancies low. "We have a very high retention rate for our tenants, which shows us we are doing a good job.". We were looking for an owner who would be more proactive, trying to really fill the space and make it a destination. The loan was provided by SCALE. Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Mark Gabrovsek, the townships zoning officer, said the mall's local management team has worked to bring innovative ideas to the site. Namdar Realty Group corporate office is located in 150 Great Neck Rd Ste 304, Great Neck, New York, 11021, United States and has 203 employees. Finally, one place to get all the court documents we need. It owns more than 200 retail properties across the country, although the Acadiana Mall marks its first Louisiana property. They sold it in 2016 for US$25.5 million to ML Estate Holdings LLC, which sued two years later, contending the property had lower revenue and higher costs than represented. Case Details Parties Documents Dockets. ; Filed: 01/24/2020; Received: 01/24/2020, NOTICE OF DISCOVERY AND INSPECTION to Second Third-Party Defendant; Filed By: Shein, J. ; Filed: 10/23/2019; Received: 10/23/2019, DocketDEMAND FOR: Demand for Authorizations; Filed By: Shein, J. Namdar Realty Group is the new owner of the 1-million-square-foot shopping center which has lost two of its three anchor stores over the past year. If Namdar wasnt the owner of these properties, would it mean that certain areas would be underserved? June 21, 2021. in General News, Northeast. Namdar Realty Group said the transaction closed in late August. Despite carrying significant expenses for security, waste disposal, landscaping and parking lot repairs on its books, the mall was in poor condition, and its gross income was slashed from $6 million to $4 million, ML Holdings claimed. and other major mall owners with a coast-to-coast reach. Now they rank among the biggest all-cash buyers of the nations hard-luck malls. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. In a nutshell, theirs is a bet that any mall can produce a profit, if the price paid is less than cash coming in from tenant leases. Their strategy generally was to suck out as much money from a mall as possible, said Silber, and they try to just dump it.. [10][11] CH Capital Group has become a partner in several acquisitions. Real Capital tracks 134 of the Namdar Realty Groups properties and estimates that portfolio is worth about US$2.7 billion. DiNatale said the township has several ideas for the mall, including adding arcade games, beer gardens, a bowling alley, rock-climbing walls and other amenities. -0.17% History. Namdar Realty Group LLC and Mason Asset Management Inc., frequent partners in real estate acquisitions, are behind the purchase, along with CH Capital Group. Amazon Is Closing Its Cashierless Stores in NYC, San Francisco and Seattle, Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs, Stock Traders Are Ignoring Blaring Bond Alarms, iPhone Maker Plans $700 Million India Plant in Shift From China, Russia Is Getting Around Sanctions to Secure Supply of Key Chips for War. The mall, At the now-shuttered Phillipsburg Mall in New Jersey, following a heavy rain in 2018, the roof of a vacant Sears collapsed, bringing a water pipe down with it, according to, Prince Harry, Meghan Markle asked to leave U.K. home, Real estate investor pleads guilty to stealing $3M, Massive unbuilt Arizona estate asks record $75M, Amazon hits brakes on construction of second headquarters. No one doubts the best U.S. malls will survive and even thrive once the pandemic carnage plays out, said Daniel McNamara, a principal at MP Securitized Credit Partners. And the surety of close is an important thing for them., We see that being able to close all-cash, often times gets you a discount from where the market it, he said. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. The Berkshire Mall . Namdar Realty Group and Gorjian Acquisitions have taken a roughly 50% equity stake in the borough's Fordham Landing megaproject, according to Dynamic Star. Get the latest business insights from Dun & Bradstreet. namdar realty inc. Namdar Realty Group Global Presence. Please try again. That wasnt their plan, DiNatale said. 2021) Court Description: ORDER denying 22 27 Motion to Dismiss; granting 28 Motion to Amend/Correct/Supplement *** Counts 1 and 2 of the Second Amended Complaint are dismissed without prejudice for lack of subject-matter jurisdiction. Mason president Elliot Nassim, 40, whose cousin married Namdar, focuses on leasing and redevelopment while Namdar oversees property management. From media and technology to finance and real estate, leagues and teams across the globe have matured into far more than just back page entertainment. POTTSVILLE, PA. Namdar Realty Group has sold Cressona Mall, a 283,553-square-foot shopping center in Pottsville, about 100 miles northwest of Philadelphia. The center was 90 percent leased at . Namdar purchased the mall portion of theVoorhees Town Center there after the township put together a package of ideas to transform the mall into more of an entertainment hub. Despite some successes, Gabrovsek said, there has been a general sense from Namdar that their priority is keeping the mall open, rather than being aggressive about filling all available space. [20][21], Mall properties owned or managed by Namdar Realty Group as of 2021 include:[22] (This list is incomplete), "Who is the 'investor group' trying to save Bon-Ton from liquidation? The case status is Disposed - Dismissed. Click here to sign up for Jersey Digs' free emails and news alerts. Court: US District Court for the Northern District of Illinois. Namdar has also been sued by retailers, including International Decor Outlet, which in 2017 accused the landlord of contract breaches such as malfunctioning air conditioning, substandard repairs. Sometimes, the ownership is in conjunction with Mason Asset Management and subsidiaries. But what really sets them apart is a steady stream of all-cash offers to sellers who want out. [7] The roof at the former Sears at the Phillipsburg Mall would later collapse. Meet the publicity-shy Chinese-Canadian soap tycoon, tap here to see other videos from our team, Unlimited online access to articles from across Canada with one account, Get exclusive access to the National Post ePaper, an electronic replica of the print edition that you can share, download and comment on, Enjoy insights and behind-the-scenes analysis from our award-winning journalists, Support local journalists and the next generation of journalists, Daily puzzles including the New York Times Crossword, Access articles from across Canada with one account, Share your thoughts and join the conversation in the comments, Get email updates from your favourite authors. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. So far, that strategy has netted big gains as well as lawsuits accusing Namdar of allowing his real estate to slide into disrepair. Namdar and Mason are both family owned, and as of 2021, own over 400 properties including 100 plus malls. Because many properties remain in limbo, the worst of the crisis for mall mortgage bond investors likely has yet to come. And we are out there looking all the time for opportunities to purchase better assets than when we first started, Namdar told MarketWatch. In Mansfield, Ohio, Namdars Westpark Shopping Center looks ill. [12][13], Namdar and Mason partnered to begin purchasing malls in 2012, with the first mall purchased being Desoto Square Mall. Mall employees and customers voiced concerns to the city, but outreach to Namdar went unanswered until the city threatened litigation, according to the emails. That was no accident, said Meyer Silber, ML Holdings lawyer in the case against Namdar, which is ongoing. In the 2018 Reuters story, Namdar President Igal Namdar spoke broadly about how the company deals with problems. For Sale Price: $480000 | 3 bed, 2 bath, 4356 Sq. Beyond leaks in one unit, the lawsuit alleges that common areas in the mall are often filled with buckets and garbage cans to catch the water dripping from the ceiling.. The Big Take is the very best of Bloomberg's in-depth, original reporting from around the globe every day. Namdar Realty Group insights Based on 25 survey responses Areas for improvement Overall satisfaction General feeling of work happiness Fair pay for job Poorly ran Housekeeping (Former Employee) - Westland, MI - October 12, 2022 Don't care about who works there as long as your a body your hired. They primarily purchase troubled shopping malls with partner Mason Asset Management. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. ; Filed: 11/04/2019; Received: 11/04/2019, DEMAND FOR: Further Demand for Authorizations; Filed By: Shein, J. The company also owns the Meriden and Enfield malls. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. The company eventually reached an agreement with its creditors. You go in and you dont know much, he noted. I think that in many respects if they dont define what theyre going to do with these malls in general, then they may get defined by the bad ones.. While we cannot say much on the matters related to the Midtown DeSoto Square Mall, it has been made public that we sold the property in early 2017, Namdars spokesperson said. This restaurant has followed ALL county guidelines for outdoor dining and is being told (sight unseen) by these landlords to stop. ; Filed: 02/20/2018; Received: 02/20/2018, DocketANSWER; Filed By: Shein, J. RELATED:Court records show Acadiana Mall sought thousands from former tenants. Buyer Lawsuit. So far, that strategy has netted big gains -- as well as lawsuits accusing Namdar of allowing his real estate to slide into disrepair. From the memories of get. Its not the first time the shopping center has been in trouble. Weve redirected our efforts at the St. Louis Outlet Mall and have since entered into a multiparty agreement to resolve outstanding taxes and assessments, Namdars spokesperson said in a statement. NAMDAR REALTY GROUP 150 GREAT NECK ROAD SUITE 304 GREAT NECK, NY 11021 Tel: 516.773.0010 Fax: 516.773.0030 OFFICE HOURS MONDAY - FRIDAY 9:00AM - 6:00PM EST [email protected] Namdar owns and operates retail property throughout the United States. GPS, ; Filed: 02/20/2018; Received: 02/20/2018, STATEMENT OF AUTHORIZATION FOR ELECTRONIC FILING; Filed By: Shein, J. Last year, Namdar and Mason paid US$12 million to buy cinema chain Goodrich Quality Theaters Inc. out of bankruptcy. Declines have been fastest among B- and C-rated malls such as Namdars, where sales per square foot average a few hundred dollars. Find out what works well at Namdar Realty Group from the people who know best.

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