Exclusive: Imperial Valley Malls new owners revealed following $38 million all cash deal, here’s what we know…
February 20, 2025
Ownership of the Imperial Valley Mall has officially changed hands in a $38 million all-cash transaction. The property, previously owned by Imperial Valley Mall II, L.P. (managed by CBL & Associates), was purchased by IVM Mallco LLC, a Delaware-based limited liability company formed by Tryperion Holdings, Peak Companies, and Duke Real Estate Group.
New Ownership & Future Plans
The new owners intend to enhance the shopping experience at Imperial Valley Mall through physical upgrades and operational investments. Their vision includes bringing in a mix of retailers and restaurants that reflect the needs and preferences of the community, including shoppers from both Imperial Valley and neighboring Mexico.
“We see tremendous potential in the Imperial Valley Mall and are excited to lead its next chapter,” said Jeff Karsh, Partner at Tryperion Holdings. “As we transition ownership, our priority is to collaborate closely with tenants, shoppers, and the broader community. Through collaboration with community stakeholders, we will enhance the center’s infrastructure, expand retail and entertainment offerings, and solidify the mall’s role as a key destination in Imperial County.”
Peak Companies also emphasized their commitment to the mall’s future, with Managing Partner Gil Priel stating:
“We are excited to invest in the long-term future of the mall and support the ongoing addition of enhanced retail and entertainment offerings. Imperial Valley Mall has the potential to create meaningful experiences for shoppers while positively impacting the broader community for years, as the place to shop, play, and cool off.”
Property Management & Leasing
As part of the acquisition, CBRE (Coldwell Banker Richard Ellis), the largest global commercial real estate firm, has been engaged for ongoing property management and leasing services. CBRE’s Joe Yetter and John Stevens will oversee leasing efforts for the mall, bringing extensive experience in managing high-traffic retail centers across Southern California and the Imperial Valley.
Official Transaction Details
The public deed transfer document states:
The official public document read “FOR VALUABLE CONSIDERATION, the receipt of which is hereby acknowledged, IMPERIAL VALLEY MALL II, L.P., a California limited partnership ("Grantor"), hereby grants to IVM MALLCO LLC, a Delaware limited liability company ("Grantee"), that certain real property (the "Land") located in the City of El Centro, County of Imperial, State of California, more particularly described in Exhibit "A" attached hereto and incorporated herein by this reference, together with all right, title and interest of Grantor in and to all improvements now located or hereafter constructed on the Land.”
The documentary transfer tax for the sale of Imperial Valley Mall was $41,800, calculated based on the full property value and paid as part of the transaction process. The property, located in El Centro, California, was officially transferred and recorded in accordance with local and state real estate regulations.
About the New Owners
• Tryperion Holdings is a real estate investment firm specializing in value-add investments across multiple property sectors.
• Peak Companies has decades of experience in asset and property management, focusing on revitalizing communities.
• Duke Real Estate Group is involved in retail real estate acquisitions and management, playing a key role in this partnership.
760 News Media will continue to monitor this developing story and provide updates as more details about the mall’s future emerge.
The documentary transfer tax for the sale of Imperial Valley Mall was $41,800. The tax was calculated on the full value of the property conveyed and was paid as part of the transaction. The property is located in the City of El Centro, and the transfer tax was recorded in accordance with the applicable regulations.
The ownership of the Imperial Valley Mall property has officially changed hands, according to public records, last updated as of 2/19/2025, 11:10 am which were obtained by 760 news. The property, previously owned by Imperial Valley Mall II, L.P., (managed by CBL & Associates). was purchased by IVM Mallco LLC, a Delaware-based limited liability company.
760 News Media spoke with a spokesperson for Peak Corp, a partner in the company, who confirmed that they have plans to expand and renovate the mall in the future. They emphasized that there are no plans to close the mall and reiterated their genuine interest in its long-term success.