Arsenal owner Stan Kroenke develop interest’ in striking sale after $120m agreement
Stan Kroenke, the proprietor of Arsenal, is reportedly interested in acquiring another property in the United States.
The native of Missouri is reportedly ‘interested’ in purchasing the Malibu Village retail center, which is located on the Pacific Coast Highway in the Malibu neighborhood of California. According to the website CoStar, Kroenke formed a company titled Malibu Village LLC, which may indicate that the property will soon be relocated.
Kroenke also operates the Los Angeles Gladiators and Los Angeles Guerrillas esports teams. In 2016, Kroenke relocated the Los Angeles Rams National Football League franchise from St. Louis to the City of Angels. Malibu Village is owned by Atlanta-based real estate investment firm Jamestown, which purchased the retail center for $120 million in May 2014.
Kroenke already has a stake in Malibu, as the Malibu Colony Plaza and a residence in the area are included in his portfolio. Due to its moniker and location in an affluent area, Malibu Village is said to have attracted “global attention.”
In December of last year, Kroenke paid $325 million to acquire The Village, a mall in the San Fernando Valley. Since then, he has also acquired a mall and office building in the Woodland Hills region. In California, he also oversaw the development of the Hollywood Park residential site in Inglewood.
Kroenke controls the Gunners via his extensive sports empire, Kroenke Sports & Entertainment, which also owns the Denver Nuggets and Colorado Avalanche of the National Hockey League. KSE also owns the Major League Soccer team Colorado Rapids as well as a vast quantity of sports real estate.
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Arsenal owner Stan Kroenke develop interest’ in striking sale after $120m agreement