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PRCP and Conversant Capital form JV to buy Pacific View Mall
The planned acquisition covers an 884,000-square-foot enclosed super-regional mall in Ventura that opened in 1964.
Pacific Retail Capital Partners (PRCP) has formed a joint venture with Conversant Capital LLC to acquire Pacific View Mall in Ventura, California, for an undisclosed price, according to ConnectCRE.
The deal targets the 884,000-square-foot property at 3301-1 E. Main St., a mall that opened in 1964 and is described as the only enclosed super-regional mall within its 25-mile trade area.
PRCP will take on leasing and operational responsibilities, while the JV combines PRCP’s retail operating and leasing experience with Conversant’s capital and real estate investing background.
PRCP CEO and founder Steve Plenge said Pacific View has served the Ventura community for more than six decades and that the partners plan to continue building on its established position.