Gateway Mall sold for $51.5 million

LINCOLN, Neb. (KOLN) - Gateway Mall, the oldest mall in the Capital City, has been sold for $51.5 million.

According to a document from the Lancaster County Assessors Office, Star-West Gateway LLC sold the mall to NE Gateway Mall PropCo LLC on May 2. The new owner’s address is a branch of an investment firm, Strategic Value Partners (SVPGlobal). Gateway Mall is also listed in the Washington Prime Group’s portfolio.

WPG is a real estate agency that specializes in the shopping centers. SVPGlobal has been a major creditor for Washington Prime Global (WPG) since 2021 when they saved WPG from bankruptcy.

Documents show WPG bought the main mall and the building on the north side of the property where Genesis Health Club is located.

Gateway Mall first opened its doors in 1960. The mall and its subdivision have had multiple owners including DSS Neil Properties LLC and Ameritas Life Insurance Corporation.

Copyright 2022 KOLN. All rights reserved.