Is the Country Club Plaza still on track to sell to Texas developers?
Is the Country Club Plaza still on track for a sale to Highland Park Village’s owners, as more vacancies arise throughout the acclaimed shopping center?
The answer is yes, numerous real estate sources familiar with pre-closing activities by HP Village Partners LP have said during the past month.
New restaurant taking over former Jax Fish House space on KC’s Plaza
But it is unclear precisely when the Plaza sale is targeted to close, after at least one extension past the Dallas group’s initial goal of year-end 2023.
“We continue to have weekly meetings with the group,” Mayor Quinton Lucas said Friday morning, “and I’m very confident that they’re doing the hard work necessary to make sure not only that they’re ready to purchase the Country Club Plaza, but to hit the ground running on new development opportunities and a stronger collaboration with Kansas City, with all of our communities and really building the future of the Plaza for the next generation.”
HP Village Partners includes Heather and Ray Washburne, and Elisa and Stephen Summers. The family investment partnership in October first was reported to be under contract to buy the Plaza from 50-50 joint venture owner The Macerich Co. and Taubman Centers, which in May defaulted on $295.2 million in outstanding acquisition debt with lender Nuveen.
Read more in the Kansas City Business Journal.
