Calif. JV Buys Los Angeles Macy's, Plans $160M Renovation

Law360, New York (June 7, 2013, 7:02 PM EDT) -- A venture led by California developer The Ratkovich Co. has bought the 1.8-million-square-foot Macy's Plaza in Los Angeles and is planning a $160 million renovation of the retail, office and hotel complex, according to a Thursday announcement.

Ratkovich has partnered with National Real Estate Advisors and Blue Vista Capital LLC to purchase the prized, block-long property. The group plans to rename the Macy's-anchored property The Bloc after it is renovated, according to a statement.

Financial details of the acquisition were not disclosed. Representatives for NREA and...
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