Katz Properties Acquires Shopping Center Near Birmingham for $60.3M

VESTAVIA HILLS, ALA. — New York-based Katz Properties has acquired Vestavia Hills City Center, a 392,000-square-foot shopping center in Vestavia Hills, roughly six miles south of Birmingham, for $60.3 million. HFF arranged mortgage financing for the acquisition. The seller was not disclosed. Vestavia Hills City Center is home to anchor tenant Publix, AMC Vestavia Hills 10, Planet Fitness, Starbucks Coffee, Rite Aid, Stein Mart and various restaurant tenants. In addition, the center is home to a variety of office users. Katz Properties has hired Fairway Management Group LLC to manage the property.