An affiliate of Connecticut-based Starwood Capital Group has completed its purchase of Capital Mall in west Olympia -- plus six other shopping malls in the U.S. -- from the Westfield Group, the company announced Thursday.
Although Westfield still retains a 10 percent ownership stake in the mall, it is no longer Westfield Capital mall, but Capital Mall.
The other malls that were acquired are in Ohio, California and Indiana.
All of them are "anchored by major national retailers and have an average occupancy of approximately 96 percent," the company said in a news release.
The company also said that existing management teams will continue to operate the properties "under the direction of Starwood Retail Partners."
The Westfield Group is based in Australia.
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