KANSAS CITY, Mo. — As the Country Club Plaza’s new ownership group moves forward with several changes and improvements at the shopping center, financial filings Wednesday revealed new details surrounding the June sale of the Plaza.
Dallas-based HP Village Management acquired the Plaza in late June. At the time, terms of the purchase weren’t immediately disclosed.
On Wednesday, Macerich, who along with Taubman Centers joined, owned and operated the Plaza prior to the sale, released financial details outlining the sale in more detail.
According to Macerich’s earning results and supplemental information for the three and six months ended June 30, 2024, Macerich and Taubman closed on the short-sale of the Country Club Plaza to HP Village Management on June 28, 2024, for $175.6 million.
Last year, the joint venture announced it had defaulted on a $295 million loan associated with the Country Club Plaza. Wednesday, Macerich reported the lender on that loan had forgiven the remaining amount owed, estimated to be roughly $147.7 million.
—
