Mason Asset Management featured on CNBC
Lauren Thomas recently interviewed Elliot Nassim, Mason Asset Management, for her story “A risky bet by America’s mall owners: Plucking retailers out of bankruptcy to salvage a pandemic-hit industry”
Two family-owned investment firms that have made a name for themselves in the mall world, Namdar Realty Group and Mason Asset Management, are taking a similar view on investing in retail.
The two have come together over the years to amass a portfolio of dozens of suburban shopping malls. Their business strategy, in sum, is to acquire distressed assets from either banks or other owners, and refurbish them enough to keep them running.
Even during the pandemic, they have acquired three malls — Belknap Mall in Belmont, New Hampshire; Mesilla Valley Mall in Las Cruces, New Mexico; and Meriden Mall in Meriden, Connecticut, Mason Asset Management President Elliot Nassim said.
And they’ve also acquired a local furniture chain, Jennifer Furniture, out of bankruptcy, along with the Grand Rapids, Michigan-based movie theater chain Goodrich Quality Theater, Nassim said, not disclosing the financial terms of those deals.
“We are looking at investing in more retail chains to become a little more vertically integrated,” Nassim explained. “We believe in the future of brick and mortar.”
“We look at it as a wonderful opportunity to be involved in a new sector with promising returns,” he added.
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