Niagara Gazette

Local News

October 5, 2012

Sabre Park changes hands

Mobile home complex bought at auction by mall affiliate

Niagara Gazette —

The Fashion Outlets of Niagara Falls mall owners have purchased the trailer park adjacent to one of the mall's parking lots for $4 million.

Fashion Outlets II, LLC a newly formed subsidiary of Macerich Partnership, L.P., was the only bidder on the property at the Friday morning auction held in the Niagara County Courthouse in Lockport.

Ted Janese III, the Niagara Falls attorney appointed as the referee by State Supreme Court Justice Richard Kloch Sr. for the foreclosure proceedings, read the terms of sale and then called out for other bidders before awarding the sale to Fashion Outlets II.

Macerich owned the lien on the property and was the Plaintiff in the foreclosure proceedings against Sabre Park Associates, LLC.

Macerich, which is headquartered in Santa Monica, Calif., bought the mall from AWE Tailsman Company of Coral Gables, Fla. for about $200 million in July of last year.

Brian Flanagan, a Rochester attorney, represented Macerich during the foreclosure proceedings and submitted the bid at the auction on behalf of Fashion Outlets II. As he and Janese signed paperwork a group of upset Sabre Park residents expressed their anger over what one resident, who refused to give his name to reporters, described as a behind-the-scenes deal.

"They never gave us notification," the resident said, his voice shaking with anger. "They've been lying to us since the beginning."

Robert Kehoe, also a resident of the park, stood in front of reporters looking despondent. He said that some residents of the park wanted to stay in their homes and had discussed raising money to bid, but that they were no match for the large business that bought the land.

"Who is going to come up with that kind of money?," Kehoe asked referring to the $4 million bid from Fashion Outlets II.

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