Legacy West opened in 2017 and has 344,000 square feet of retail space, 444,000 square feet of office space and 782 residential units. Photo: trongnguyen via Adobe Stock
Legacy West in Plano now has money from Indiana and Singapore running through it.
Indianapolis-based Kite Realty and Singaporean wealth fund GIC recently bought the massive development for $785 million.
Zoom in: Legacy West has the highest concentration of luxury tenants among the company's portfolio, per Kite's April earnings call. Tenants include Louis Vuitton, Gucci, Lucid, Tesla and Fogo de Chão.
The roughly 35-acre development has also inspired other projects. Plano's Shops at Willow Bend is being converted into an open-air, Legacy-like mall for high-end tenants, more restaurants and outdoor events.
The latest: The Legacy West sale was one of the largest retail real estate deals in Dallas-Fort Worth so far this year, the DMN reports.
Kite, which is publicly traded, owns 52% of Legacy West. GIC owns the remaining 48%.
In a news release, Kite CEO John A. Kite described the development as an "iconic mixed-use asset with significant mark-to-market potential."
What's next: Ralph Lauren is working on a new location in Legacy West, next to Lucid and Darna.
