Any seller of retail malls or open air any size of portfolio, were there, Namdar, 51, said in an interview from his headquarters in Great Neck, N.Y. We can close immediately, as is, where it is, with no due diligence., Any seller of retail malls or open air any size of portfolio, we're there. RELATED:Court records show Acadiana Mall sought thousands from former tenants. Subscribe now to read the latest news in your city and across Canada. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. namdar realty inc. Namdar Realty Group Global Presence. Theyve been a bottom feeder, historically, buying on the cheap, for pennies on the dollar and making a go of it, said Jim Costello, senior vice-president at Real Capital Analytics Inc. Its not the high end of the market, but its solid retail if you can set it up right.. The Acadiana Mall was owned by CBL Properties for several years. Fifteen years later, the mall was sold in July 2016 to Namdar Realty Group along with The Lakes in Muskegon for an aggregate price of $66.5 million, including the assumption of a $38.2 . Comments may take up to an hour for moderation before appearing on the site. Location: People at location: North America: 187: Namdar ultimately traded the property to ML Holdings for $25.5 million. Namdar officials, both at the company's headquarters and in Connecticut have not responded to interview requests made by Hearst Connecticut Media. Mr Namdar has also been sued by retailers: International Decor Outlet in 2017 accused the landlord of contract breaches like malfunctioning air-conditioning, substandard repairs and inadequate. Fernandez v. Namdar Realty Group LLC et. al., No. 2:2020cv05649 Among recent mall deals was the US$10.3-million purchase in April of Marketplace at Brown Deer outside Milwaukee, valued at US$45 million in 2005, according to loan documents and an announcement by the seller, Retail Value. [3][5] Namdar and Mason are both family owned, and as of 2021, own over 400 properties including 100 plus malls. +1.61% They primarily purchase shopping malls with partner Mason Asset Management. At the now-shuttered Phillipsburg Mall in New Jersey, following a heavy rain in 2018, the roof of a vacant Sears collapsed, bringing a water pipe down with it, according to police reports. [18][19], Namdar was part of a group of investors who attempted to purchase The Bon-Ton from liquidation. The companies were sued in 2017 by a tenant, International Dcor Outlet, who claimed the owners failed to properly maintain and repair the property. Who's David Thomson? Mark Gabrovsek, the townships zoning officer, said the mall's local management team has worked to bring innovative ideas to the site. But almost anything below Class A, there really has been no bid for, except for the Namdars of the world. Single Family Residential. If you do not agree with these terms, then do not use our website and/or services. History. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. and Kimco Realty Corp. MarketWatch photo illustration/iStockphoto, 35% of U.S. shopping malls to shut permanently, Brookfield to hand back keys to three malls, potentially more, as it goes private in $6.5 billion deal, Green Street Commercial Property Price Index, The U.S. housing market is crumbling under the weight of higher mortgage rates and rock-bottom affordability: Prices fell the most in these U.S. states, Am I crazy? After my mother died, my cousin took her designer purse, and my aunt took 8 paintings from her home then things really escalated. Namdar and Mason have averaged 20 acquisitions annually over the past decade, but could swallow 100 at a time if the right deal came along, Namdar said, declining to provide details on how much money they plan to spend. Bloomberg News recently reported on legal issues stemming from the bottom feeder strategy, while pegging Namdars personal net worth at roughly $2 billion. Namdar, through Namco Realty Ltd, also a few years ago raised millions in Israel by selling bonds tied to his properties. Namdars spokesperson said the company has worked diligently to repair the storm drain and any remaining issues surrounding the collapse. Soon after the sale closed, tenants allegedly began to flee. But the malls owner, Namdar Realty Group, did not disclose any of that to its tenants, a handful of retailers alleged. Igal Namdar and Elliot Nassim first teamed up a decade ago to buy problem U.S. shopping malls. Real Capital tracks 134 of the Namdar Realty Groups properties and estimates that portfolio is worth about US$2.7 billion. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. Dozens of retailers have filed for Chapter 11 in the past year, including mall staples such as J.C. Penney and Ascena Retail Group. The Voorhees Township site has since been sold to another company. namdar. hard Pelzer II. From the memorie When the pandemic hit, those issues were only exacerbated. All are headquartered in Great Neck. [3] [5] Namdar and Mason are both family owned, and as of 2021, own over 400 properties including 100 plus malls. We encountered an issue signing you up. Dallas congressional hopeful Namdar suspended from anti-trafficking - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. New York-based Namdar Realty Group revealed Monday that it recently bought the Berkshire Mall in Wyomissing from Allied Retail Properties. 2:2020cv05649 - Document 32 (E.D.N.Y. Cancellation and Refund Policy, Privacy Policy, and Some of the biggest landlords, including Simon Property Group Inc. and Brookfield Asset Management Inc., have walked away from centres where values slumped below the propertys debt. ; Filed: 11/12/2019; Received: 11/12/2019, NOTICE OF DISCOVERY AND INSPECTION Notice of Medical Exchange & Disclosure of Expert Witness; Filed By: Shein, J. Several market experts pointed to Nadmar and Nassim as among the sectors biggest cash mall buyers. Namdar Group is a family owned and operated real estate investment and development firm headquartered in New York, since 1979. Namdar Realty Group Profile and History. Headquartered in NY and family-owned and operated, Namdar is dedicated to the development of large-scale transit . We live in purgatory: My wife has a multimillion-dollar trust fund, but my mother-in-law controls it. Namdar and the subsidiaries denied all allegations in court filings. Namdar secures $96M in loans for new Jersey City towers At a Namdar property in Sterling, Illinois, photographs show a sinkhole that formed after a storm drainage tube collapsed. ; Filed: 10/01/2019; Received: 10/01/2019, DocketADJOURNMENT OF CONFERENCE -REQUEST Request for Adjournment of July 30, 2019 Conference on Consent of All Parties; Filed By: Durante, K.; Filed: 07/29/2019; Received: 07/29/2019, DocketDEMAND FOR: Retainer Statement; Filed By: Shein, J. Declines have been fastest among B- and C-rated malls such as Namdars, where sales per square foot average a few hundred dollars. ; Filed: 02/20/2018; Received: 02/20/2018, AFFIRMATION/AFFIDAVIT OF SERVICE; Filed By: Cavalier, D.; Filed: 02/05/2018; Received: 02/05/2018, SUMMONS + COMPLAINT; Filed By: Cavalier, D.; Filed: 01/24/2018; Received: 01/24/2018, DocketRESPONSE TO DEMAND For Bill of Particulars; Filed By: Mccarthy, B.; Filed: 03/03/2020; Received: 03/03/2020, DocketRESPONSE TO DEMAND Response to Notice for Discovery & Inspection (of Northeastern Flooring & Construction, Inc.); Filed By: Shein, J. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. ; Filed: 01/24/2020; Received: 01/24/2020, DocketDEMAND FOR: Supplemental Demand fro Authorizations; Filed By: Shein, J. Owner of former Echelon Mall, called 'slumlord' in Fla., taps overseas Namdar declined to discuss individual cases but said such complaints are rare. Durga Prop. Holdings v. Holiday Park Realty, LLC ; Filed: 02/20/2018; Received: 02/20/2018, ANSWER; Filed By: Shein, J. China Seeks Peaceful Reunification With Taiwan in Key Report, Second Norfolk Southern Train Derails in Ohio in a Month, Bank of Canada Risks Falling Too Far Behind Fed, Scotia Says, Feds Daly Says More Rate Hikes Likely Needed to Cool Inflation, Colombia Prices Rise Less than Forecast to a Fresh 24-Year High, China E-Commerce Giant JD Set for $1.4 Billion Discount Spree, Rivian Tells Staff EV Output May Be 24% More Than Forecast, The UK Is Using Drones to Prosecute Small-Boat Migrant Smugglers, Trump Vows to Finish Mission, Cements Dominance Over CPAC, Bolsonaro Says Mission Isnt Over as US Conservatives Fete Him, Harrods Shrugs Off Recession Fears as Rich Get Richer, FT Says, Wealthy NYC Family Feuds Over $258 Million Madison Avenue Sale, Porsche, Ferrari E-Fuel Push at Heart of EU Engine Debate, Tom Sizemore, 'Saving Private Ryan' Actor, Dies at 61. ; Filed: 11/04/2019; Received: 11/04/2019, DocketDEMAND FOR: Further Demand for Authorizations; Filed By: Shein, J. Over time, you do become what youre perceived, Cushman and Wakefield Vice Chair Mark Gilbert said of Namdar in a 2018 interview with Reuters. Other stores have also closed, including the Gap, Gap Kids, Banana Republic and New York and Company. In another part of the mall, the leaky roof allegedly made it impossible for a tenant to move in. They primarily purchase troubled shopping malls with partner Mason Asset Management. So far, that strategy has netted big gains -- as well as lawsuits accusing Namdar of allowing his real estate to slide into disrepair. We earn $400,000 and spend beyond our means. From New York, NAMDAR is trying to control how a local business (Coltons Social House) in Clovis CA is operating a restaurant. The company that purchased the Acadiana Mall in January has a history of reported problems elsewhere and a track record of making little progress with properties they own. NOTICE OF WITHDRAWAL OF MOTION / ORDER TO SHOW CAUSE, AFFIDAVIT OR AFFIRMATION IN OPPOSITION TO ORDER TO SHOW CAUSE, RJI -RE: REQUEST FOR PRELIMINARY CONFERENCE, Cases involving other agreements or torts not classified elsewhere, 190, 1190, 2190, 3190, 4190, 4194, 5190, 5196, World Properties LLC et al - v. - Namdar Realty Group LLC, NOTICE OF WITHDRAWAL OF MOTION / ORDER TO SHOW CAUSE (Motion #3) Notice of withdrawal of Order to Show Cause without prejudice; Filed By: Gomberg, T.; Filed: 03/27/2019; Received: 03/27/2019, NOTICE OF WITHDRAWAL OF MOTION / ORDER TO SHOW CAUSE (Motion #002) Notice of withdrawal of motion without prejudice; Filed By: Gomberg, T.; Filed: 03/27/2019; Received: 03/27/2019, EXHIBIT(S) - D (Motion #3) Complaint; Filed By: Schimek, M.; Filed: 02/26/2019; Received: 02/26/2019, EXHIBIT(S) - C (Motion #3) 190124 Letter; Filed By: Schimek, M.; Filed: 02/26/2019; Received: 02/26/2019, EXHIBIT(S) - B (Motion #3) 190103 Letter; Filed By: Schimek, M.; Filed: 02/26/2019; Received: 02/26/2019, EXHIBIT(S) - A (Motion #3) 181205 Letter; Filed By: Schimek, M.; Filed: 02/26/2019; Received: 02/26/2019, AFFIDAVIT OR AFFIRMATION IN REPLY (Motion #3); Filed By: Schimek, M.; Filed: 02/26/2019; Received: 02/26/2019, AFFIDAVIT OR AFFIRMATION IN OPPOSITION TO ORDER TO SHOW CAUSE (Motion #3) Affirmation in Opposition to Proposed Intervenor's OSC; Filed By: Hirschel, D.; Filed: 02/20/2019; Received: 02/20/2019, EXHIBIT(S) - E (Motion #3) Medical Record Redacted per 22 NYCRR 202.5(e); Filed By: Gomberg, T.; Filed: 01/24/2019; Received: 01/24/2019, EXHIBIT(S) - D (Motion #3) Mold Intrusion Report; Filed By: Gomberg, T.; Filed: 01/24/2019; Received: 01/24/2019, NOTE OF ISSUE:WITH JURY *Corrected* Note of Issue (with Jury); Filed By: Hirschel, D.; Filed: 08/30/2018; Received: 09/03/2018, STIPULATION - SO ORDERED; Filed By: Court User; Filed: 06/12/2018; Received: 06/12/2018, ORDER - CERTIFICATION; Filed By: Court User; Filed: 06/11/2018; Received: 06/11/2018, NOTICE OF DISCOVERY AND INSPECTION Notice of Discovery and Inspection; Filed By: Hirschel, D.; Filed: 09/29/2017; Received: 09/29/2017, ORDER - PRELIMINARY CONFERENCE; Filed By: Court User; Filed: 09/21/2017; Received: 09/21/2017, ADDENDUM - GENERAL (840A); Filed By: Hirschel, D.; Filed: 07/26/2017; Received: 07/26/2017, RJI -RE: REQUEST FOR PRELIMINARY CONFERENCE; Filed By: Hirschel, D.; Filed: 07/26/2017; Received: 07/26/2017, PRELIMINARY CONFERENCE REQUEST Request for Preliminary Conference; Filed By: Hirschel, D.; Filed: 07/26/2017; Received: 07/26/2017, ANSWER; Filed By: Emouna, M.; Filed: 07/26/2017; Received: 07/26/2017, SUMMONS + COMPLAINT Summons and Complaint; Filed By: Hirschel, D.; Filed: 05/04/2017; Received: 05/04/2017. A rising variety of individuals will move via the doorways of the Bangor Mall within the coming weeks and months to get pleasure from theater, music, gaming and different leisure points of interest which can be beginning to rival retail facilities on the mall. Billionaire N.Y. 'bottom feeder' buys malls as others run away Read: Brookfield to hand back keys to three malls, potentially more, as it goes private in $6.5 billion deal. Click here to sign up for Jersey Digs' free emails and news alerts. UniCourt uses cookies to improve your online experience, for more information please see our Privacy Policy. But when the new owner took a closer look after the sale, it found things were not as they appeared. For Sale Price: $609000 | 3 bed, 2 bath, 7875 Sq. The canopy is peeling off the building, and its signage has fallen. That is where we kind of make our money.. PDF Coa 347698 Durga Property Holdings Inc V Holiday Park Realty Llc Westfield Trumbull mall sold as part of deal worth $196 million Two Towers from Namdar Group Rise in Jersey City as New Plaza Emerges Much has been written about the death of American mall, including recently by the New York Times in an article that notes the deep nostalgia many people have for local malls, even as many property owners have been struggling for years to keep the lights on. The governments release Tuesday of July U.S. retail sales showed a sharp 1.1% drop on a monthly basis, underscoring anxieties tied to the delta variant of the coronavirus, but also a shift in priorities from goods to services, James Knightley, INGs chief international economist, wrote in emailed comments. Last year, Namdar bought 12 more and Mason added eight. In Mansfield, Ohio, Namdars Westpark Shopping Center looks ill. It owns more than 200 retail properties across the country, although the Acadiana Mall marks its first Louisiana property. Trillions of dollars worth of fiscal and monetary stimulus by the federal government and Federal Reserve helped staunch the carnage, with only 13 malls so far this year trading to new owners. The pandemic also isnt over yet, including in the U.S., where COVID hospitalizations have been climbing, despite widespread availability of vaccines for adults, raising concerns around the recovery. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. The Judge overseeing this case is Sanford N. Berland. As a result, a build-up of moisture caused the chiller pipes to rip through the ceiling, destroying the tiles, dry wall and floor, according to the church. Amazon Is Closing Its Cashierless Stores in NYC, San Francisco and Seattle, Amazon Pauses Construction on Second Headquarters in Virginia as It Cuts Jobs, Stock Traders Are Ignoring Blaring Bond Alarms, iPhone Maker Plans $700 Million India Plant in Shift From China, Russia Is Getting Around Sanctions to Secure Supply of Key Chips for War. You go in and you dont know much, he noted. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. t the Regency Square Mall in Jacksonville, Florida, roaches roam freely, the air conditioning is broken and the roof leaks, according to a series of lawsuits filed over the past four years. The properties Namdar and Nassim began scooping up after the 2008 financial crisis were C or D malls, categories, like exam grades, that point to room for improvement or near failure. Namdar and Mason are both family owned, and as of 2021, own over 400 properties including 100 plus malls. View 8012 W 14th Ct, Hialeah, FL real estate investment calculator for traditional & Airbnb rental properties. Mason was founded more than 10 years later, as the country was coming out of the Great Recession. Beyond leaks in one unit, the lawsuit alleges that common areas in the mall are often filled with buckets and garbage cans to catch the water dripping from the ceiling.. The case remains pending in a Florida circuit court. For sale after foreclosure, Fashion Square Mall's future is up in the Namdar Realty Group and Gorjian Acquisitions have taken a roughly 50% equity stake in the borough's Fordham Landing megaproject, according to Dynamic Star. A certificate of occupancy was never issued, and the leaks caused two electrical fires, according to another lawsuit filed against the property by the Jacksonville Automotive and Motorcycle Museum. In the 2018 Reuters story, Namdar President Igal Namdar spoke broadly about how the company deals with problems. Find out what works well at Namdar Realty Group from the people who know best. ; Filed: 03/23/2018; Received: 03/23/2018, DocketNOTICE OF DISCOVERY AND INSPECTION; Filed By: Shein, J. Namdar's actions in New Jersey appear to be opposite of their statements that malls can remain viable. al., No. Founded in 1999, Namdar started with a single acquisition of a small retail storefront in Long Island, NY. URW confirmed that the malls were sold to Mason Asset Management and Namdar Realty Group, a privately held commercial real estate investment and management firm. Its all about the cost basis, said Cedrik Lachance, director of research at Green Street. Email tips@jerseydigs.com. The price was more than half the US$13 million Namdar paid for the entire mall, which names 46 other tenants on its website. Namdars bet is that he can pay a small enough price to outrun the decline. Namdar Realty Group LLC Company Profile - Dun & Bradstreet The price was half of the $50 million. The largely deserted mall is not a source of police complaints, Whitfield said. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. . ; Filed: 03/12/2018; Received: 03/12/2018, DocketAFFIRMATION/AFFIDAVIT OF SERVICE; Filed By: Shein, J. Namdars approach to its real estate business generally is to purchase marginally performing properties, drain them of cash and operating funds, and then sell them, the lawsuit in New York Supreme Court in Brooklyn alleged. Mehdi Bolour faces 25 criminal charges over illegally rented Hollywood building. Most of the [malls] are built in prime locations, Igal said. In October 2019, Dollar General received an order to evacuate: The fire alarm system was out of service and needed to be replaced. Sometimes, the ownership is in conjunction with Mason Asset Management and subsidiaries. Like dozens of other traditional malls, the Acadiana Mall has seen its share of struggles in recent years. ; Filed: 02/20/2018; Received: 02/20/2018, NOTICE OF DEPOSITION UPON ORAL EXAMINATION; Filed By: Shein, J. 8012 W 14th Ct Hialeah, FL Investment Property | Real Estate Investing Over time, ML Holdings fell into default on its loan. Lawsuits mount for Hazelwood mall owner after eviction notices The Berkshire Mall . He characterized the port authority's path to buying the property from an affiliate of Namdar Realty Group of Great Neck, New York, in the simplest terms: "Nothing was happening here. Cancellation and Refund Policy, Privacy Policy, and And it may be natural to have issues at some mall locations, especially if theres not enough capital to make changes, industry sources say. [5][7], Namdar and Mason often charge lower rent to keep mall vacancies low. ; Filed: 02/20/2018; Received: 02/20/2018, DEMAND FOR: Combined Demands; Filed By: Shein, J. Other companies Washington Prime Group Inc., CBL & Associates Properties Inc. and Pennsylvania Real Estate Investment Trust filed for bankruptcy, raising the potential for massive portfolios to come up for sale. MAC, 2023 Financial Post, a division of Postmedia Network Inc. All rights reserved. Namdar Realty Group Find company research, competitor information, contact details & financial data for Namdar Realty Group LLC of Hanover, PA. Get the latest business insights from Dun & Bradstreet. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. Namdar Realty Group LLC et. Troubled Elyria mall's next moves are in government hands | Crain's Namdar has also been sued by retailers, including International Decor Outlet, which in 2017 accused the landlord of contract breaches such as malfunctioning air conditioning, substandard repairs and inadequate security at the Regency Square Mall in Jacksonville, Fla. Landlord is an absentee landlord with a reputation as a slumlord,' the complaint in Duval County Circuit court alleged. NAMDAR REALTY GROUP 150 GREAT NECK ROAD SUITE 304 GREAT NECK, NY 11021 Tel: 516.773.0010 Fax: 516.773.0030 OFFICE HOURS MONDAY - FRIDAY 9:00AM - 6:00PM EST [email protected] Namdar owns and operates retail property throughout the United States. Beautiful remodeled single family home in Palm Springs Lakes community with no association. Like billionaire Carl Icahn, McNamaras hedge fund has been betting on the debt of older malls going bad. malls? Namdar Realty Group LLC and Igal Namdar: Case Number: 2:2020cv05649: Filed: November 19, 2020: Court: US District Court for the Eastern District of New York: Presiding Judge: Edward R Korman: Referring Judge: Anne Y Shields: Nature of Suit: Labor: Fair Standards: Cause of Action: 29 U.S.C. At a Namdar property in Sterling, Illinois, photographs show a sinkhole that formed after a storm drainage tube collapsed. Namdar has not returned phone calls and emails seeking comment on their plans for the Acadiana Mall. I would say its been more about maintaining, not enhancing, he said. There were factors that led to this, such as not having the rent to pay, he said. At the same time, many tenants have simply stopped paying rent, as countless malls struggle to regain their footing. Last year, federal court proceedings began after CBL defaulted on more than $125 million in loans. The surge in retail REIT stocks comes despite a backdrop of big-picture challenges, not only from slumping retail rents and occupancy levels, but also a crush of tenant leases coming due over the next three to four years. LONG ISLAND'S FINEST LANDSCAPING AND CONSTRUCTION CORP. JEFFREY S SHEIN (0218-3640-RLI) FRANK A. POLACCO, RESPONSE TO DEMAND For Bill of Particulars; Filed By: Mccarthy, B.; Filed: 03/03/2020; Received: 03/03/2020, RESPONSE TO DEMAND Response to Notice for Discovery & Inspection (of Northeastern Flooring & Construction, Inc.); Filed By: Shein, J. [20][21], Mall properties owned or managed by Namdar Realty Group as of 2021 include:[22] (This list is incomplete), "Who is the 'investor group' trying to save Bon-Ton from liquidation? +1.00% Its an economic drain on us because theyre not reinvesting and its a moral drain on the community, watching something that was once a vibrant center for the community falling into disrepair.. Upset communities allege that Namdar and Mason are looking to turn a profit by not investing in their malls. Since 2000, the company has invested in over 2,000,000 square feet in commercial real estate in. Nassim and Namdar are frequent partners in shopping malls, Reuters reported in June of 2018. Namdar Realty Group 150 Great Neck Road, Suite 304 Great Neck, NY 11021 Series D Preferred Stock4: 125,731 shares Series E Preferred Stock5: 280,074 shares Oaktree Capital Management, L.P. 333 South Grand Ave., 28th Fl. Fayetteville Mall Sells For $39.5M to New York Investors Namdar and Nassim make no pretense of catering to luxury consumers. It would have required a substantial investment, and I think their model is the opposite of that.. Case Summary. [9] Because of this low price/maintenance, they have a high return on investment. Similar to Kohan, Namdar is another company that buys dead malls for cheap prices. One centre, the Eastdale Mall in Montgomery, Ala., is now 100-per-cent leased, up from 70 per cent when it was purchased in January 2020 for US$24 million. Namdar Group | LinkedIn But as online shopping grew and consumer habits changed, many malls found themselves plagued by dwindling foot traffic and rising bankruptcies. But we are told in the next year or 18 months, there will be a lot of deals coming to the market, he said. Ft. ; Filed: 02/20/2018; Received: 02/20/2018, DocketANSWER; Filed By: Shein, J. The duo, through Namdar Realty Group and Mason Asset Management out of Great Neck, Long Island, currently owns about 60 million square feet of shopping center space, including roughly of 100 open-air properties are 65 enclosed malls. [14] Lawsuits were ongoing in 2018 over Regency Square Mall's lack of maintenance by Namdar. . ; Filed: 02/20/2018; Received: 02/20/2018, DocketSTATEMENT OF AUTHORIZATION FOR ELECTRONIC FILING; Filed By: Shein, J. And now they're buying into the movie business. Namdar had verbally agreed to lower rents for store owners, in some cases to as little as 25 percent of what was reported in leases, while others had been allowed to stay rent-free to prop up occupancy rates, according to the complaint. On 05/04/2017 World Properties LLC filed a Contract - Other Contract lawsuit against Namdar Realty Group LLC. Namdars spokesperson blamed hastily completed contracting work that Sears had commissioned a number of years back, before the retailer shut its doors. - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. Owner of former Echelon Mall, called 'slumlord' in Fla., taps overseas - filed by Law Offices of Jeffrey S. Shein & Associates, P.C. ; Filed: 10/23/2019; Received: 10/23/2019, DocketDEMAND FOR: Demand for Authorizations; Filed By: Shein, J. ; Filed: 10/01/2019; Received: 10/01/2019, NOTICE OF DISCOVERY AND INSPECTION; Filed By: Shein, J. Namdar Realty Group: Employee Directory | ZoomInfo.com Through extensive interviews with Namdar and Mason executives and examination of public filings and lawsuits, The Real Deal took a closer look at the two firms and their strategy at a time when many malls are in turmoil. Namdar declined to comment on the value of the properties his company owns, or his personal wealth, but said the figures Bloomberg is reporting are inaccurate. About $4.6 billion of U.S. shopping center debt has been pegged to likely deed-in-lieu of foreclosure events, liquidations or real estate owned (REO) properties, according to a list compiled by Bill Petersen, co-founder of CREDiQ, a commercial real estate analytics firm.