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Flatley Sells


Developer Thomas Flatley is selling his portfolio of 10 malls in Massachusetts and New Hampshire to Wilder Cos. and O'Connor Capital Partners for $500 million.

Flatley originally put the portfolio up for sale in March.

The properties contain about 2.3 million square feet of retail space and include centers like Dedham Mall, Village Shoppes in Canton, Falmouth Mall, and Medfield Shops.

"These centers have great access, great visibility, and a great mix of retail," Thomas V. Wilder , of Wilder Cos., said yesterday in an interview.

Flatley, 75, told the Globe in an earlier interview that he is selling off his entire portfolio of shopping centers because the market for commercial properties is good now, and, "There are times when you turn 75 that you do things that you might not do when you are 45."

Born in Ireland, Flatley came to America in 1950 and over 50 years, built a real estate fortune worth an estimated $1.3 billion according to Forbes magazine.

Wilder Cos. and O'Connor Capital Partners, whose managing partner is Jerry O'Connor, have worked together on two ventures in Florida in recent years.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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