Center Trust, Inc.
Baldwin Hills Crenshaw Plaza
Center Trust, Inc., a fully integrated, self-managed real estate investment trust (REIT), was a leading developer, owner, and manager of retail shopping centers in the Western United States. The company owned or controlled a portfolio of over 40 retail properties, principally composed of open-air, anchored shopping centers and two regional malls, encompassing in excess of 10 million square feet.
The principals of Vantage, Ned and Stuart, were intimately involved in the expansion, restructuring, refinancing, and ultimate sale of the Company on behalf of the shareholders. They worked extremely closely with the majority shareholder of the Company, Lazard Freres Real Estate Investors, in developing and adapting the Company’s strategies to the challenges of the marketplace. These ranged from the completion of the initial recapitalization of the Company by LFREI, to the retirement of $180 million in debentures, the restructuring of the management team and ultimately the merger with Pan Pacific Retail Properties.
In addition, Ned and Stuart were responsible for all aspects of leasing, development, property, and asset management of the portfolio. This included the repositioning of Baldwin Hills Crenshaw Plaza and Media City Center (now Burbank Town Center), the Company’s two regional malls, and the redevelopment of a number of community centers throughout the Western United States.