Namdar Realty Group

Namdar Realty Group is an American shopping mall investment company based in Great Neck, New York. They primarily purchase dying or dead shopping malls with partner Mason Asset Management. Namdar and Mason are both family owned, and as of 2021, own over 400 properties including 100 plus malls.

Strategy
Namdar and Mason primarily purchase malls for low prices, with various problems, but do not invest in improving them. The deals for these malls are done in cash. Most malls they purchase are in markets considered B and C grade. Because of this low price/maintenance, they have a high return on investment. Namdar's primary source of investment capital comes from bonds on the Tel Aviv Stock Exchange.

Namdar and Mason often charge lower rent to keep mall vacancies low. They will also split properties to sell off individual pieces. The companies also work with Uber Capital Group LLC and Gorjian Acquisitions to acquire properties. CH Capital Group has become a partner in several acquisitions.

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 Pennsylvania Real Estate Investment Trust 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 2024 include: (This list is incomplete) • Acadiana Mall, Lafayette, Louisiana

• Bangor Mall, Bangor, Maine

• Beaver Valley Mall, Monaca, Pennsylvania

• 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

• Conestoga Mall, Grand Island, Nebraska

• Country Club Mall, Cumberland, Maryland

• Crossroads Mall, Waterloo, Iowa

• Crossroads Mall, Beckley, West Virginia

• Crystal Mall, Waterford, Connecticut

• Eastdale Mall, Montgomery, Alabama

• Florence Mall, Florence, Kentucky

• Ford City Mall, Chicago, Illinois

• The Gallery at South DeKalb, Decatur, Georgia

• Genesee Valley Center, Flint, 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

• Marley Station Mall, Glen Burnie, Maryland

• Meriden Mall, Meriden, Connecticut

• Merritt Square Mall, Merritt Island, Florida

• Mesilla Valley Mall, Las Cruces, New Mexico

• Midway Mall, Elyria, Ohio

• Newburgh Mall, Newburgh, New York

• Nittany Mall, State College, Pennsylvania

• North Hanover Mall, Hanover, Pennsylvania

• Northfield Square Mall, Bourbonnais, Illinois

• Northwest Arkansas Mall, Fayetteville, Arkansas

• Pittsburgh Mills, Tarentum, Pennsylvania

• Phillipsburg Mall, Phillipsburg, New Jersey

• Regency Square Mall, Jacksonville, Florida

• River Oaks Mall, Calumet City, Illinois

• River Valley Mall, Lancaster, Ohio

• 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), Memphis, Tennessee

• St. Louis Outlet Mall, Hazelwood, Missouri

• Steeplegate Mall, Concord, New Hampshire

• Sunrise Mall, Citrus Heights, 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

• Wiregrass Commons, Dothan, Alabama