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SALT LAKE CITY — Vestar, in a joint venture with funds managed by Oaktree Capital Management L.P., has acquired a 623,205-square-foot open-air retail and entertainment center within The Gateway, a retail, residential and office complex located in downtown Salt Lake City. The purchase price was not disclosed.
The center is leased to over 100 tenants including Barnes & Noble Bookstore, California Pizza Kitchen, The Depot, Dick’s Sporting Goods, Megaplex 12 at The Gateway, Metro Fitness, Starbucks Coffee and Victoria’s Secret. Vestar plans to invest $30 million in revitalizing and rebranding the center.