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DLC Buys Randhurst Village Mall for a Reported $100M


DLC Management is planning to expand Randhurst Village mall now that it owns the 1M SF shopping center. DLC paid a reported $100M for the Northwest Side mall and will invest at least $15M more into it, including some possible residential units. A JPMorgan Chase/Casto Lifestyle Properties JV bought Randhurst Village three years ago and redeveloped the center at a cost of $200M, reports Crain’s. DLC’s deal includes a redevelopment agreement with the village of Randhurst. Randhurst Village is 90% leased. DLC president/CEO Adam Ifshin says there's more opportunity to be seized. [Crain’s]