Milford mall sold in $1.1 billion deal with other properties

- FILE - Connecticut Post Mall (WTNH)


MILFORD, Conn. (AP) — The Westfield Connecticut Post mall in Milford is being sold as part of a $1.1 billion deal involving five malls owned by retail center Westfield Corp.

The New Haven Register reports that Westfield, an Australian company with U.S. headquarters in Los Angeles, is selling the Milford shopping center along with properties in California, Illinois and Washington.

The buyer is a consortium of three companies made up of Centennial Real Estate Co. Montgomery Street Partners. Centennial, based in Dallas, will handle the daily operations of each mall.

The deal closed Friday.

Steven Levin, Centennial’s chief executive officer, said the deal with Westfield will allow the consortium to capitalize on “many unrealized opportunities.”

Before the Westfield deal, Centennial’s portfolio of properties did not include retail centers east of the Mississippi River.

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Information from: New Haven Register, http://www.nhregister.com

Copyright 2015 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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