Owner Hires Realty Firm to Sell Promenade Mall
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The owner of the Promenade Mall in Woodland Hills has engaged Morgan Stanley Realty to sell that property and the rest of its $1-billion portfolio of real estate in the United States.
Pan American Properties, a New York-based real estate investment trust owned by British Coal Pension Funds, hired Morgan Stanley in March.
Spokeswomen for both Pan American and Morgan Stanley last week declined to comment on the planned sale. But earlier this month, Brian Vernon, the vice president for acquisitions for Pan American, said he expected a sale of the company’s real estate holdings by November.
The portfolio also includes the Laguna Hills Mall in Orange County, as well the Watergate complex in Washington.
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