"Who would spend that kind of money if they were not going to do something?"
"I look forward to seeing what the ownership brings,"
"People are excited. They look forward to bringing the glory to this place."
"We just needed good ownership to invest in the mall."
GFO Investments, led by Russell Galbut, completed a $73 million acquisition of the Galleria Mall in late September. The ownership consortium includes InSite Group, Atlas Hill Real Estate and Prime Finance. The group closed the deal on Sept. 19 and immediately hired Dallas-based Centennial to manage mall operations. The new owners plan to create a community-based enclave with residential, entertainment and retail components, including apartments and hotel rooms. Small-business tenants reacted with hope and anticipation and expressed expectations for fresh investment, additional tenants and improved occupancy to restore the mall’s vitality.
Read at Sun Sentinel
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