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Colonie Center purchased by investment group

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A global investment firm has bought Colonie Center for an undisclosed price, according to a news release issued today. KKR and its affiliates, including KKR Financial Holdings LLC, acquired the 1.3 million-square-foot regional mall in partnership with Colonie Pacific. “Colonie is an institutional-quality asset with tailwinds from a significant recent renovation,” said Ralph Rosenberg, head of KKR’s real estate group, in the release. “With additional investment and a revamped leasing strategy, Colonie will be an ...

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April 9, 2013
11:29 p.m.

[ Flag Post ]

IMHO, Colonie Center stands head and shoulders over any other mall in the area (if malls are your thing) in just the quality of the experience. Crossgates stands at the opposite end as a crass, lifeless revenue generator for someone. Let's hope KKR doesn't do something stupid with it.

Given a choice, for movies for example, we'll spend our money at CC first.