ALBANY, N.Y. - Ownership of the Colonie Center mall is now in new hands.
KKR & Company and affiliates of KKR announced Tuesday they have acquired the mall. Although they did not release the financial terms of the deal, the company did outline what it wants to change.
The Head of the firm's Real Estate groupd Ralph Rosenberg says for everyday shoppers, the transition of ownership will be seamless. But they will focus on making new investments and trying to draw in new stores to Colonie Center.
He says the top priority is simply making the shopping experience better than it is today.
Colonie Center is home to 113 stores and draws in about $245 million in retail sales per year.