DealPoint Merrill Acquires Detention Basin Parcels

WOODLAND HILLS, Calif., Jan. 12, 2021 /PRNewswire/ -- DealPoint Merrill, an owner and operator of value-added real estate opportunities and sponsor of real estate investment offerings, announce the acquisition of thirteen (13) specific parcels of land for their Belle Oaks Marketplace development, located at Richmond Town Square Mall, Richmond Heights, Ohio. These parcels include the original detention basin designed for the mall's construction and its use and are critical elements to the Belle Oaks development Stormwater Pollution Prevention Program. 

The Belle Oaks Marketplace is expected to top 1,617,800 square feet*. Belle Oaks at Richmond Road will be the pre-eminent mixed-use, multi-family community in the region. The 69-acre site will be a pedestrian-friendly environment with a walkable street grid surrounding a $10M+ landscaping plan that includes lush greenspaces and best-in-class amenities. Once fully envisioned, the project will consist of 791 Class-A apartment units with approximately 315,000 square feet of retail, including a completely renovated Regal Cinema 20-screen theater complex. 

* Square footage calculation assumes the acquisition of the balance of the mall property, approximately 907,102 square feet, South of the former Sears property that is already owned by DealPoint Merrill of Woodland, California.

About DealPoint Merrill:

Based in Los Angeles since 1985, DealPoint Merrill and its affiliates have established a long-term national track record of success with a scope of operations encompassing development and construction. The company's senior management team and shareholders have collectively acquired, refinanced, and sold major real estate assets in excess of $1 billion, inclusive of the development and redevelopment.

For more information on the Belle Oaks at Richmond Road development, please visit www.belleoaksrichmond.com.

CONTACT INFORMATION:
Danielle Haney, Director of Communications
(310) 671-3900
[email protected]
www.dealpointmerrill.com

SOURCE DealPoint Merrill