Bella Terra Mall Is Sold for $228 Million

Bella Terra, a Huntington Beach mall undergoing a large-scale renovation, has been sold for $228 million to San Jose real estate investment advisor DJM Capital Partners Inc. and Pennsylvania lender GMAC Institutional Advisors.

The 778,000-square-foot center at the intersection of Edinger Avenue and Beach Boulevard was sold by developers Ezralow Co. of Calabasas and J.H. Snyder Co. of Los Angeles. Those companies have nearly completed a $170-million makeover.

Bella Terra opened in 1966 as one of the region's first indoor malls. Last year the developers began transforming it into an outdoor shopping center in a style that evokes an Italian village with large public spaces alongside shopping and dining alleys. When it opens this year it will have 71 shops and restaurants and a 20-screen theater.

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Roger Vincent