Second Horizon Capital Announces Newest Investment with Acquisition of Layton Hills Mall
LAYTON, Utah, August 7, 2024 - Second Horizon Capital announced the successful closing of its acquisition of Layton Hills Mall, a 597,262 square-foot retail center located in Layton, Utah. Anchored by Dillard’s, JCPenney, Dick’s Sporting Goods, and Cinemark, Layton Hills Mall represents Second Horizon Capital’s fifth acquisition since the company’s founding in 2021.
“Second Horizon Capital is excited to continue the expansion of our portfolio with the addition of Layton Hills Mall, a robust center with strong operations, surrounded by a vibrant community,” said Howard Levine, Co-Founder and Managing Partner of Second Horizon Capital. “As we navigate the ownership transition, we look forward to working directly with tenants, customers, and neighboring communities. Through partnership and collaboration, we will enhance the center’s infrastructure, expand retail and entertainment offerings at the property, and strengthen Layton Hills Mall’s position as an anchor of the community.”
Second Horizon Capital will provide significant incremental investment to support and enhance Layton Hills Mall as an economic driver and important community hub while further strengthening its role as a lively destination and landmark in Davis County and the north end of the greater Salt Lake City area. This includes making meaningful investments into center infrastructure and operational improvements to provide new opportunities for neighbors of all ages to shop, dine, and gather.
“Layton Hills Mall is a central destination and presents a tremendous opportunity for our company’s ongoing growth,” said Camilo Varela, Co-Founder and Managing Partner of Second Horizon Capital. “We are excited to invest in the long-term future of the center and support the ongoing addition of enhanced retail and entertainment offerings. We believe Layton Hills Mall has the potential to create meaningful experiences for shoppers while positively impacting the broader community for years to come.”
Second Horizon Capital’s acquisition of Layton Hills Mall was built on the strength of the community’s long-term demographic growth, consistent and robust tenant performance, and its strong position as a community amenity.
Second Horizon Capital has engaged CBRE for ongoing property management and leasing services at Layton Hills Mall. CBRE is the largest global commercial real estate firm, with extensive experience overseeing dynamic retail centers nationwide and deep local presence in the greater Salt Lake City market.
About Second Horizon Capital
Second Horizon Capital is an impact investment firm that partners with communities to transform large-scale, underinvested commercial properties into vibrant destinations and local economic engines. The firm honors its role by investing in, supporting, and stewarding each community that it joins. Second Horizon Capital focuses on bringing community stakeholders, including municipalities, business owners, community groups, tenants, and end-users to the forefront in reinvigorating community hubs. By driving long-term value enhancement, seeking more equitable outcomes, and partnering with local stakeholders, Second Horizon Capital works to enhance its communities, as well as the properties themselves. Additional information on Second Horizon Capital can be found on the company's website at www.secondhorizon.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2023 revenue). The company has more than 130,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including: facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services; and development services. Additional information on CBRE Group, Inc. can be found on the company’s website at www.cbre.com.
Contact:
Helen Langan
Langan Communications
801-641-6569