Case Summary. And now they're buying into the movie business. But what really sets them apart is a steady stream of all-cash offers to sellers who want out. Several market experts pointed to Nadmar and Nassim as among the sectors biggest cash mall buyers. +1.00% 2020-02-15 14:18 Iranian banks' foreign assets up over 17% Tweet. Uncover why Namdar Realty Group is the best company for you. "We have a very high retention rate for our tenants, which shows us we are doing a good job.". . ; Filed: 02/20/2018; Received: 02/20/2018, DocketSTATEMENT OF AUTHORIZATION FOR ELECTRONIC FILING; Filed By: Shein, J. Dynamic Star finds partners for $2B Fordham Landing project That comes on top of complaints against Namdar and its sister company, Mason Asset Management, from local officials and residents in several regions. Namdar is an absentee landlord with a reputation as a slumlord, the home furnishings stores complaint reads. But what really sets them. 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. The surge in retail REIT stocks comes despite a backdrop of big-picture challenges, not only from slumping retail rents and occupancy levels, but also a crush of tenant leases coming due over the next three to four years. RESPONSE TO DEMAND For Bill of Particulars, RESPONSE TO DEMAND Response to Notice for Discovery & Inspection (of Northeastern Flooring & Construction, Inc.), NOTICE OF DISCOVERY AND INSPECTION to Second Third-Party Defendant, DEMAND FOR: Supplemental Demand fro Authorizations, DEMAND FOR: Further Demand for Authorizations, NOTICE OF DISCOVERY AND INSPECTION Supplemental Notice of Medical Exchange & Disclosure of Expert Witness, NOTICE OF DISCOVERY AND INSPECTION Notice of Medical Exchange & Disclosure of Expert Witness, STATEMENT OF AUTHORIZATION FOR ELECTRONIC FILING, NOTICE OF DEPOSITION UPON ORAL EXAMINATION, Cases involving other personal injury not classified elsewhere, 360, 1360, 2360, 2367, 3360, 3367, 4360, 4367, 5360, 5367, Joanne Mistrulli - v. - Namdar Realty Group LLC et al, ADJOURNMENT OF CONFERENCE -REQUEST Request for Adjournment of July 30, 2019 Conference on Consent of All Parties; Filed By: Durante, K.; Filed: 07/29/2019; Received: 07/29/2019, DEMAND FOR: Retainer Statement; Filed By: Shein, J. Public Records Policy. That was no accident, said Meyer Silber, ML Holdings lawyer in the case against Namdar, which is ongoing. He said he sees value in the properties as malls, where other investors in the market are more interested in redeveloping them for other uses. Namdar Realty Group Reviews Updated Jan 27, 2023 Find Reviews Clear All Full-time, Part-time English Filter Found 25 of over 26 reviews Sort Popular Popular COVID-19 Related Highest Rating Lowest Rating Most Recent Oldest First 2.4 28 % Recommend to a Friend 12 % Approve of CEO Igal Namdar 9 Ratings There are no pros to display at this time. 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Namdar Realty Group is an American shopping mall investment company based in Great Neck, New York. Morgan Stanleys retail team of analysts forecast last October that the pandemic could force 35% of U.S. shopping malls to shut permanently. Finally, one place to get all the court documents we need. Whats our next move? West Village Apartment Building Sells for $23.5 Million Witnick, Namdar, Gorjian buy 30 East 14th Street for $23.5M West Village apartment building was at the center of two lawsuits New York. Fayetteville Mall Sells For $39.5M to New York Investors articles a month for anyone to read, even non-subscribers! Namdar Realty Group Company Profile | Management and - Datanyze New Trumbull mall owners set to meet with local officials Law360; Law360 UK . Meyer Silber, an attorney for ML Estate, declined to comment. SPX, Mr Namdar has also been sued by retailers: International Decor Outlet in 2017 accused the landlord of contract breaches like malfunctioning air-conditioning, substandard repairs and inadequate. Namdar Realty Group is a privately held investment and management firm owned by Igal Namdar. At the same time, many tenants have simply stopped paying rent, as countless malls struggle to regain their footing. The Ferraris of the world thats not the kind of car were looking for., _____________________________________________________________. Their strategy generally was to suck out as much money from a mall as possible, said Silber, and they try to just dump it.. At the same property, Impact Church of Jacksonville accused managers of avoiding upkeep, making the building look abandoned. Impact paid US$7.4 million in 2016 to buy a former Belk department store on the site, where it now runs a school as well as a church. If you like this story sign up for FP Work Newsletter. By continuing to use this website, you agree to UniCourts General Disclaimer, Terms of Service, Ypsilanti Township is suing New York-based Namdar Realty over 1,000 pages worth of code violations found during an inspection at the property just days before Namdar purchased it in December.. Acquisitions Archives - Mason Asset Management Namdar Realty Group View 8012 W 14th Ct, Hialeah, FL real estate investment calculator for traditional & Airbnb rental properties. If Namdar wasnt the owner of these properties, would it mean that certain areas would be underserved? 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. View 17319 NW 63rd Ct, Hialeah, FL real estate investment calculator for traditional & Airbnb rental properties. Staunton Mall was purchased from bankrupt First Republic Realty for $4.05 million in November 2010. So far, that strategy has netted big gains as well as lawsuits accusing Namdar of allowing his real estate to slide into disrepair. Namdar, through Namco Realty Ltd, also a few years ago raised millions in Israel by selling bonds tied to his properties. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. namdar inc. namdar llc. The Mall-Buying 'Bottom Feeder' Has His Sights Set On Manhattan's Older I would say its been more about maintaining, not enhancing, he said. Are these the brands that might save the mall? [2][5] Voorhees Town Center was having maintenance and security issues the same year. POTTSVILLE, PA. Namdar Realty Group has sold Cressona Mall, a 283,553-square-foot shopping center in Pottsville, about 100 miles northwest of Philadelphia. Namdar and Mason have been acquiring smaller, distressed, local retailers, including a Midwest movie theater chain that filed for bankruptcy last year. 201 : Jury Demanded By: Plaintiff The damage may be causing water to infiltrate the citys sewer system, according to emails between town officials sent throughout 2020 provided to TRD. Founded in 1999, Namdar started with a single acquisition of a small retail storefront in Long Island, NY. The Judge overseeing this case is Nassau Dcm-Tj. Its all about the cost basis, said Cedrik Lachance, director of research at Green Street. Based in the upscale enclave of Great Neck, Long Island, Namdar and Mason are both family run. Single Family Residential. Searching articles in Namdar Realty Group Llc x Sign In | | | Close. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. If we see that our business idea works, and we can run these models, and we can fix them up, and we can manage them, and we can bring value, well keep on buying.. Single Family Residential. And it may be natural to have issues at some mall locations, especially if theres not enough capital to make changes, industry sources say. 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. Landlord is an absentee landlord with a reputation as a slumlord,' the complaint in Duval County Circuit court alleged. Namdar and the subsidiaries denied all allegations in court filings. . Sometimes, the. [8] Most malls they purchase are in markets considered B and C grade. Compare pay for popular roles and read about the team's work-life balance. Find company research, competitor information, contact details & financial data for Namdar Realty Group LLC of Hanover, PA. Get the latest business insights from Dun & Bradstreet. [5] Jennifer Furniture was purchased in June 2020 by John Garg and Namdar. When the issue was raised, Namdar painted over the water stains and the problem got worse as mold grew and another leak developed, International Decor Outlet asserted in a 2017 suit. Joanne Mistrulli - v. - Namdar Realty Group LLC et al - UniCourt read more Prominent Tenants Find a property MALCOLM et al. A sinkhole at the Northland Mall in Sterling, Illinois. That compares with a 18.4% gain for the S&P 500 Index They also invested in the furniture chain formerly known as Jennifer Convertibles. Namdar Group is a family owned and operated real estate investment and development firm headquartered in New York, since 1979. By continuing to use our site, you agree to our Terms of Service and Privacy Policy. The Berkshire Mall . Namdar ultimately traded the property to ML Holdings for $25.5 million. Similar to Kohan, Namdar is another company that buys dead malls for cheap prices. The center was 90 percent leased at . We live in purgatory: My wife has a multimillion-dollar trust fund, but my mother-in-law controls it. ; Filed: 02/20/2018; Received: 02/20/2018, DocketANSWER; Filed By: Shein, J. That kind of footprint puts them in league with Macerich Co. They primarily purchase troubled shopping malls with partner Mason Asset Management. There was an error, please provide a valid email address. TEHRAN - Iranian Oil Minister Bijan Namdar Zanganeh said more than $30 billion is required to complete unfinished petrochemical projects across the country, IRNA reported. Others, like Macys and Gap, have decided to pull out of malls altogether. For big names, revenue plummeted. A purchase price was not disclosed. A local mall representative could not comment on Namdars plans. Get the latest business insights from Dun & Bradstreet. That is where we kind of make our money.. Mason was founded more than 10 years later, as the country was coming out of the Great Recession. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. New owner of Trumbull mall makes good first impression Dallas congressional hopeful Namdar suspended from anti-trafficking ; Filed: 10/01/2019; Received: 10/01/2019, DocketADJOURNMENT OF CONFERENCE -REQUEST Request for Adjournment of July 30, 2019 Conference on Consent of All Parties; Filed By: Durante, K.; Filed: 07/29/2019; Received: 07/29/2019, DocketDEMAND FOR: Retainer Statement; Filed By: Shein, J. 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. In New York City, malls lost half a year to the pandemic before being permitted to reopen in September. Namdar Realty Group - Overview, News & Competitors - ZoomInfo 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. Namdar Realty Group | LinkedIn This home features 3 bedrooms 2 bathrooms with 1 car garage. 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. Bakalar said the timing of Namdar's acquisition comes as the town prepares to embark on a market study worth up to $350,000. Through extensive interviews with Namdar and Mason executives and examination of public filings and lawsuits, The Real Deal took a closer look at the two firms and their strategy at a time when many malls are in turmoil. For Sale Price: $609000 | 3 bed, 2 bath, 7875 Sq. The case remains pending in a Florida circuit court. Cancellation and Refund Policy, Privacy Policy, and Roughly $3 billion shopping mall loans in commercial mortgage bond deals have been identified as at-risk of being handed back to lenders, according to research firm and data tracker Trepp.I think some mall owners will muddle through with the help of loan modifications and maybe some peripheral debt forgiveness, saidManusClancy, senior managing director and head of research at Trepp. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. Ft. [2] [3] [6] Strategy [ edit] Namdar declined to comment on that net worth estimate when asked by MarketWatch. Namdar Realty Group Careers and Employment | Indeed.com DeSoto Square closed permanently in April, according to local news reports. Mason Asset Management - Properties He scoops up struggling centres at bargain-basement prices after their landlords lose faith, betting he can turn a profit before the last tenants turn out the lights. Durga Prop. Holdings v. Holiday Park Realty, LLC RELATED:Police arrest suspect in Christmas Eve mall shooting. ; Filed: 02/20/2018; Received: 02/20/2018, NOTICE OF DEPOSITION UPON ORAL EXAMINATION; Filed By: Shein, J. The largely deserted mall is not a source of police complaints, Whitfield said. 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. ; Filed: 10/23/2019; Received: 10/23/2019, DocketDEMAND FOR: Demand for Authorizations; Filed By: Shein, J. +1.17% Many once online-only retailers are moving into the suburban mall, finding value in the traditional store but offering experiences tailored to their customers. ; Filed: 03/23/2018; Received: 03/23/2018. Defendant also challenges the entry of a default judgment against "Igal Namdar, d/b/a Namdar Realty Group" and Igal Namdar in his individual capacity . After soaking Florida's DeSoto Square Mall for management fees, Namdar attempted to sell the property for $30 million, according to a lawsuit filed by the financial services firm ML Holdings in. Real Estate: Billionaire Igal Namdar Buys Shopping Malls No One Else Meet the Long Island guys who love unloved shopping malls ; Filed: 01/24/2020; Received: 01/24/2020, DocketDEMAND FOR: Supplemental Demand fro Authorizations; Filed By: Shein, J. "When you own 100 retail properties, of course you're going to have people having complaints. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. It owns more than 200 retail properties across the country, although the Acadiana Mall marks its first Louisiana property. New York-based investment firm buys Berkshire Mall And the best part of all, documents in their CrowdSourced Library are FREE. The next issue of FP Investor will soon be in your inbox. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. But we are told in the next year or 18 months, there will be a lot of deals coming to the market, he said. Filed: February 21, 2023. 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.. Voorhees vote clears township to seize former Echelon Mall - Inquirer History. Bloomberg News recently reported on legal issues stemming from the bottom feeder strategy, while pegging Namdars personal net worth at roughly $2 billion. He expects a flurry of deals in 2022 as more owners of troubled retail properties head for the exits. An REO property is one where a property is owned by a lenderbecause it failed to sell in a foreclosure auction after the borrower defaulted on the mortgage. Namdar Realty Group is an American shopping mall investment company based in Great Neck, New York. Namdar and Mason are both family owned, and as of 2021, own over 400 properties including 100 plus malls. ; 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. Please try again. 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.. And we are out there looking all the time for opportunities to purchase better assets than when we first started, Namdar told MarketWatch. 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. 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. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. Namdar Realty Group is a shopping mall investment company based in Great Neck, New York. Lawsuits mount for Hazelwood mall owner after eviction notices [3] Phillipsburg Mall was purchased from PREIT in 2013 for $11.5 million, with numerous subdivisions and sales later occurring including the anchor building housing Kohl's. Others will be handed back to lenders through an uncontested or confrontational foreclosure process.. [9] Because of this low price/maintenance, they have a high return on investment. If you are a Home delivery print subscriber, unlimited online access is. 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. After soaking Floridas DeSoto Square Mall for management fees, Namdar attempted to sell the property for $30 million, according to a lawsuit filed by the financial services firm ML Holdings in 2018. Igal and Nassims strategy lately has been similar to that employed by Simon and Brookfield, which have been buying up bankrupt retailers including J.C. Penney and Brooks Brothers. The Westfield Trumbull mall, in Trumbull, Conn. May 21, 2021. Brad Schrader, Sterlings superintendent of public works, said he suspects the city is the victim of Namdar using the local mall for depreciation purposes., We get stuck holding the bag in the end, he said. Namdar Group has secured $195 million in financing for the land acquisition and the construction of Namdar Towers, a development located in downtown Miami. 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. After the sale, DiNatale said township officials quickly realized they had a different vision for the site. Namdar also recently hired a director of redevelopment with plans to repurpose some of the partnerships properties. The company that purchased the Acadiana Mall in January has a history of reported problems elsewhere and a track record of making little progress with properties they own. GPS, This case was filed in Nassau County Courts, Supreme Court located in Washington, New York. malls? - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. 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. Amazing opportunity on this 3 bedrooms, 2-bathroom Home with lots of upgrades. Like billionaire Carl Icahn, McNamaras hedge fund has been betting on the debt of older malls going bad. While we cannot comment on matters of active litigation, we do take any lawsuits against our team very seriously, the team told MarketWatch. He scoops up struggling centers at bargain-basement prices after their landlords lose faith, betting he can turn a profit before the last tenants turn out the lights. Namdar and Mason have averaged 20 acquisitions annually over the past decade, but could swallow 100 at a time if the right deal came along, Namdar said, declining to provide details on how much money they plan to spend. ; Filed: 01/24/2020; Received: 01/24/2020, DEMAND FOR: Supplemental Demand fro Authorizations; Filed By: Shein, J. The deed was recorded Dec. 30 at the Washington County Courthouse in Fayetteville. The price was half of the $50 million. The mall looks abandoned, but isnt. Mark Gabrovsek, the townships zoning officer, said the mall's local management team has worked to bring innovative ideas to the site. Igal Namdar has made a fortune buying shopping malls no one else wants. Namdar Realty Group LLC et. Dozens of retailers have filed for Chapter 11 in the past year, including mall staples such as J.C. Penney and Ascena Retail Group. One centre, the Eastdale Mall in Montgomery, Ala., is now 100-per-cent leased, up from 70 per cent when it was purchased in January 2020 for US$24 million. The lawsuit contends that the mall should have sold for about $5 million one-fifth of what the company paid. Now they rank among the biggest all-cash buyers of the nations hard-luck malls. If the ultimate goal is to redevelop the property, criticism can occur. ; Filed: 02/20/2018; Received: 02/20/2018, DEMAND FOR: Combined Demands; Filed By: Shein, J. Court: US District Court for the Northern District of Illinois. Our Story Namdar Group If you do not agree with these terms, then do not use our website and/or services. China Seeks Peaceful Reunification With Taiwan in Key Report, Second Norfolk Southern Train Derails in Ohio in a Month, Bank of Canada Risks Falling Too Far Behind Fed, Scotia Says, Feds Daly Says More Rate Hikes Likely Needed to Cool Inflation, Colombia Prices Rise Less than Forecast to a Fresh 24-Year High, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, Rivian Tells Staff EV Output May Be 24% More Than Forecast, The UK Is Using Drones to Prosecute Small-Boat Migrant Smugglers, Trump Vows to Finish Mission, Cements Dominance Over CPAC, Bolsonaro Says Mission Isnt Over as US Conservatives Fete Him, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Porsche, Ferrari E-Fuel Push at Heart of EU Engine Debate, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61. Last year, Namdar bought 12 more and Mason added eight. ", "Namdar Realty Group Plows Forward as Mall Properties Decay", "Who is making money from struggling U.S. ; Filed: 11/04/2019; Received: 11/04/2019, DocketDEMAND FOR: Further Demand for Authorizations; Filed By: Shein, J. Namdar and Mason are both family owned, and as of 2021, own over 400 properties including 1 00 plus malls. The duo, through Namdar Realty Group and Mason Asset Management out of Great Neck, Long Island, currently owns about 60 million square feet of shopping center space, including roughly of 100 open-air properties are 65 enclosed malls. As Namdar rushes to acquire more properties, some worry that the ones it owns are being left behind. [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? UniCourt uses cookies to improve your online experience, for more information please see our Privacy Policy. UniCourt uses cookies to improve your online experience, for more information please see our Privacy Policy. Read More. Namdar, through Namco Realty Ltd, also a few years ago raised millions in Israel by selling bonds tied to his properties. They've been a bottom feeder, historically, buying on the cheap, for pennies on the dollar and making a go of it. From New York, NAMDAR is trying to control how a local business (Coltons Social House) in Clovis CA is operating a restaurant.