Pacific Retail Capital Partners and Conversant Form Joint Venture to Acquire Pacific View Mall in Ventura, California

LOS ANGELES--(BUSINESS WIRE)--Pacific Retail Capital Partners (“PRCP”), one of the nation's leading retail real estate development, investment, management and advisory firms focused on evolving retail-led real estate, today announced that it has formed a joint venture with Conversant Capital LLC (“Conversant”), a flexible capital provider to real estate companies and platforms, to acquire Pacific View Mall in Ventura, California.

The joint venture combines PRCP’s retail operating and leasing expertise with Conversant’s flexible capital capabilities and deep experience investing across real estate asset classes to acquire the 884,000-square-foot property. Effective immediately, PRCP will assume leasing and operational responsibilities for Pacific View.

“Pacific View is a well-established retail destination with a distinctive position along Ventura County’s coastline, and we are pleased to partner with Conversant on the acquisition,” said Steve Plenge, Chief Executive Officer and Founder of PRCP. “The property has served the Ventura community for more than six decades, and we look forward to continuing to build on its strong foundation alongside our new partner.”

Located at the intersection of Highway 101 and Highway 126 at 3301-1 East Main Street in Ventura, California, Pacific View has served as the city’s premier shopping and dining destination since opening in 1964 and was last renovated in 2017. With sweeping views of the Pacific Ocean and Pierpont Bay, the property is the only super-regional, two-level, enclosed shopping destination within its 25-mile trade area extending along California’s Gold Coast. The center benefits from two entrances off Main Street and Mills Road and direct access to two major highways.

“Pacific View represents an attractive opportunity to invest in a well-established asset with a distinctive position in its market and compelling future upside, which we look forward to working with PRCP to unlock,” said Tobias Milligan, Principal at Conversant. “This transaction builds on our strong momentum across the firm and we are excited to continue expanding our portfolio of diversified real estate assets and operating platforms.”

Pacific View features anchors including Target, Macy’s and JCPenney, alongside more than 130 national retailers, including Sephora, Ross, Victoria’s Secret, Trader Joe’s and 24 Hour Fitness. The property also features an 11-option food-court and dining destinations including Wood Ranch, Red Robin, and California Pizza Kitchen.

About Pacific Retail Capital Partners (PRCP)

Pacific Retail Capital Partners (PRCP) is one of the nation’s premier real estate investment groups, with a proven track record of evolving and repositioning large-format retail properties. Based in Southern California, PRCP strategically leads over $2.5 billion and 22 million square feet in assets under direct management and leasing. Additionally, PRCP manages 4 million square feet of asset management, advisory and master planning services. To learn more visit pacificretail.com or follow on social media at: Facebook: @PacificRetailCapitalPartners and Instagram: @PacificRetail.

About Conversant

Conversant Capital LLC is a private investment firm founded in 2020. The firm pursues credit and equity investments within the real estate, digital infrastructure and hospitality sectors in both the public and private markets. Further information is available at www.conversantcap.com.