P
olaris Fashion Place, a prominent mall in central Ohio, has been acquired by O'Connor Capital Partners, an international real estate development company. The acquisition was finalized on July 23, as announced in a press release from the same day. The shopping center's previous owner, Washington Prime Group, had put it up for sale along with its other properties nationwide after filing for bankruptcy in June 2021 due to financial challenges brought about by the COVID-19 pandemic.

    The mall, located at 1500 Polaris Parkway in Columbus, spans nearly 1.3 million square feet and features over 160 national and local storefronts. O'Connor Capital Partners has been an investor in Polaris for over a decade and will now assume complete operational control of the mall, including day-to-day management, leasing, and operations.

    "We have long-term confidence in the Columbus market and in Polaris Fashion Place as a cornerstone asset," said Bill O'Connor, CEO of O'Connor Capital Partners. "We will ensure that Polaris remains a cornerstone of the community by curating a thoughtful tenant mix and delivering a best-in-class experience."

    This acquisition marks the company's second major investment in the Columbus area, following its partnership with Trident Capital Group to develop the Rickenbacker Industrial Center. With over $35 billion invested in real estate across the United States, Europe, and South America over 40 years, O'Connor Capital Partners is a seasoned player in the industry.

    Polaris Fashion Place general manager Tamra Bower expressed her enthusiasm for working with the new owners, stating, "I'm incredibly excited about the new chapter ahead with O'Connor Capital Partners. Their commitment to creating vibrant, community-centered destinations aligns perfectly with our vision for Polaris."