“Witnessing the transformation in our industry, we saw the opportunity to establish a completely unique, boutique mall platform that has true “mall DNA” with hand-picked, talented mall experts possessing an unbridled, entrepreneurial approach to the mall space” says Spinoso. “That would allow us to affect significant change to properties that weren’t being maximized.”
“Because we are a company that did not come out of the consolidation of the industry, we emerged as a ground up, scalable platform that has the benefit of 30 years of history without any legacy issues,” says Spinoso, “and – we are totally unique.”
To acquire centers, Spinoso has partnered with a number of institutional investors. While Spinoso does have a capital partner in its acquisitions, Carmen Spinoso says “Our preference is to partner with capital that has more of a long-term investor mentality than short term acquisition and flip,” says Spinoso. “We select our capital partners to be in line with our vision for the properties.”
“Going forward, there is a tremendous amount of opportunity in the mall space,” says Spinoso, “and there aren’t a lot of experts out there.”
Article excerpts from “Recreating The Experience”, Randall Shearin, Shopping Center Busienss, May 2018. Read full article here.
