DJM Capital Concludes Two Decades of Influence with Bella Terra Sale to PGIM

DJM Capital Concludes Era of Influence at Bella Terra

DJM Capital Partners, a prominent name in real estate development and management, has officially announced the sale of its ownership stake in Bella Terra, a lifestyle-focused mixed-use center located in Huntington Beach, California, to PGIM Real Estate. This transaction marks a significant conclusion to DJM's 20-year relationship with this beloved property, which has evolved significantly over the years.

Since acquiring a stake in the center in 2005, DJM played an instrumental role in transforming Bella Terra from a traditional indoor mall into a lively outdoor shopping and dining destination. Under DJM's stewardship, the property was revitalized into a community hub that incorporates entertainment, residential areas, and a diverse blend of shopping options.

Lindsay Parton, the president of DJM Capital, expressed pride in the transaction, stating, "It is with pride that we sell our stake in Bella Terra, marking the end of a successful 20-year run as part owner and custodian of the property." He emphasized the impact DJM made on the center, highlighting its vibrant atmosphere that now attracts tens of thousands of visitors annually.

During its management period, DJM introduced notable features such as Costco and The Residences at Bella Terra, a residential community of 467 apartments. The opening of a newly designed Amphitheater—rebranded as The Green—further solidified the center's role as a focal point for community events, with DJM hosting over 400 activities each year.

Another testament to DJM’s achievements at Bella Terra is its impressive leasing record, executing more than 100 leases and maintaining an impressive occupancy rate of 92%. This careful curation of tenants helped create a dynamic retail environment appealing to a wide range of shoppers, thereby enhancing the center’s reputation.

The sale not only signifies the end of DJM's involvement with Bella Terra but also represents the company's ongoing commitment to seek new opportunities. Last year, they purchased a substantial 46-acre site in Bakersfield, California, where they plan to develop a shopping center anchored by Whole Foods in addition to other neighboring ventures. Parton remarked, "Having met our investment and operational goals in Bella Terra, we look forward to applying that same energy and vision to new projects."

Despite the conclusion of this chapter, DJM Capital will still maintain a presence in California’s real estate sector as it continues to co-own and operate other assets alongside PGIM. With approximately four million square feet in its current portfolio valued at around $2 billion, DJM remains committed to delivering value through innovative real estate solutions that cater to the modern demands of consumers and businesses.

As the ownership of Bella Terra transitions fully to PGIM, many in the community are optimistic about the future of the shopping center. With strong financial backing and a history of successful project management, PGIM is well-positioned to continue Bella Terra's legacy as a favorite destination for shopping, dining, and community events. DJM’s departure signals not an end, but rather the beginning of a new phase in Bella Terra's journey.

For more information on DJM Capital, visit DJM Capital.