Namdar Realty Group is a private, family-owned real estate investment trust based in Great Neck, New York. , the company owns over 400 properties.
The company is most well-known for its ownership of over 100 shopping malls. Namdar's mall portfolio largely consists of "class B" and "class C" malls in small-to-midsize markets, many of which have been classified as dead or dying. The company has been criticized for poor management of its mall properties, particularly in terms of deferred maintenance, being described in one lawsuit as an "absentee landlord with a reputation as a 'slumlord'".
Strategy Namdar's business strategy focuses on acquiring pre-built "class B" and "class C" malls in smaller markets. Because of their locations and current states, the malls are typically purchased in cash for around $5.3 million. Once acquired, properties' maintenance spending is substantially reduced (up to 67% less than other malls), and store rents are lowered to avoid low vacancy rates. The company will also often sell its malls' outparcels. Due to reduced maintenance and low acquisition costs, Namdar's capitalization rate averages 2-3 times that of a standard mall.
Namdar's purchases are typically made with a partner firm, Mason Asset Management. Uber Capital Group, Gorjian Acquisitions, and CH Capital Group have also been Namdar partners. Namdar's primary source of investment capital comes from bonds on the Tel Aviv Stock Exchange.
History Namdar and Mason partnered to begin purchasing malls in 2012, with the first mall purchased being Desoto Square Mall in Bradenton, Florida. Phillipsburg Mall in Warren County, New Jersey, was purchased from PREIT in 2013 for $11.5 million, with numerous subdivisions and sales later occurring including the anchor building housing Kohl's. The roof at the former Sears at the Phillipsburg Mall would later collapse. Lawsuits were ongoing in 2018 over lack of maintenance by Namdar of Regency Square Mall in Jacksonville, Florida. Voorhees Town Center in Voorhees Township, New Jersey, was having maintenance and security issues the same year. Jennifer Furniture was purchased in June 2020 by John Garg and Namdar. Namdar and Mason purchased most of the bankrupt Goodrich Quality Theaters chain in July 2020. Namdar was a partner in several New York City area property purchases in 2021.
Failed Bon-Ton purchase
Namdar was part of a group of investors who attempted to purchase The Bon-Ton from liquidation. The group also included DW Partners LP and Washington Prime Group. Due to a fee issue, the attempt failed, and Bon-Ton liquidated.
List of properties Mall properties owned or managed by Namdar Realty Group as of 2026 include: (Note: This list is incomplete. You can help by adding more properties.) Acadiana Mall, Lafayette, Louisiana Bangor Mall, Bangor, Maine Berkshire Mall, Wyomissing, Pennsylvania Cache Valley Mall, Logan, Utah Central Mall, Fort Smith, Arkansas Chambersburg Mall, Chambersburg, Pennsylvania Chapel Hills Mall, Colorado Springs, Colorado The Citadel, Colorado Springs, Colorado College Square Mall, Cedar Falls, Iowa Country Club Mall, Cumberland, Maryland Crossroads Mall, Beckley, West Virginia Concord Mall, Wilmington, Delaware Eastdale Mall, Montgomery, Alabama Florence Mall, Florence, Kentucky Ford City Mall, Chicago, Illinois The Gallery at South DeKalb, Decatur, Georgia Grand Traverse Mall, Garfield Township, Grand Traverse County, Michigan Gulf View Square, Port Richey, Florida Hamilton Mall, Mays Landing, New Jersey Heritage Mall, Albany, Oregon Hickory Point Mall, Forsyth, Illinois Jackson Crossing, Jackson, Michigan The Lakes Mall, Muskegon, Michigan Logan Valley Mall, Altoona, Pennsylvania Louis Joliet Mall, Joliet, Illinois Marley Station Mall, Glen Burnie, Maryland Meriden Mall, Meriden, Connecticut Merritt Square Mall, Merritt Island, Florida Mesilla Valley Mall, Las Cruces, New Mexico Newburgh Mall, Newburgh, New York Nittany Mall, State College, Pennsylvania North Hanover Mall, Hanover, Pennsylvania Northfield Square Mall, Bourbonnais, Illinois River Oaks Mall, Calumet City, Illinois River Valley Mall, Lancaster, Ohio The Shoppes at Buckland Hills, Manchester, Connecticut The Shops at Ithaca Mall, Ithaca, New York Sierra Vista Mall, Clovis, California South Park Mall, San Antonio, Texas South Shore Mall, Bay Shore, New York Southland Mall, Memphis, Tennessee Stonecrest Marketplace, Lithonia, Georgia Sunrise Mall, Citrus Heights, California Southland Mall, Hayward, California Trumbull Mall, Trumbull, Connecticut Uniontown Mall, Uniontown, Pennsylvania University Mall, Carbondale, Illinois Voorhees Town Center, Voorhees Township, New Jersey Wenatchee Valley Mall, East Wenatchee, Washington West Valley Mall, Tracy, California Westgate Mall, Amarillo, Texas Westland Center, Westland, Michigan Willow Grove Park Mall, Willow Grove, Pennsylvania Wiregrass Commons Mall, Dothan, Alabama
See also Kohan Retail Investment Group, a similar company
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