Newport Beach Investors buy foreclosed Bay Area Mall, Plots 10,000-Home Multi-Use Community

By Seth Quittner

Orange County investors, backed with British-based money, don’t think malls are dead: They’ve bought an ailing lender-owned Bay Area shopping center and hope to turn around its fortunes. LBG Real Estate Cos. of Newport Beach and Aviva Investors of London announced the purchase of the 1.1 million-square-foot Hilltop Mall in Richmond.