Dallas Atlanta-based Jones Lang LaSalle Retail said that Rick Vita of JLL has been appointed as receiver of Valley View Center, a 1,635,000-sq.-ft. mall in Dallas.
As the receiver, Vita is responsible for controlling and directing the asset until a resolution between the lender and borrowers is achieved.
Effective immediately, Jones Lang LaSalle said it is responsible for managing the mall and advising on the best course of action for the mall going forward. The mall will remain open for business as usual.
“Our management team is fully engaged in keeping the mall running smoothly,” said Greg Maloney, president and CEO of Jones Lang LaSalle Retail.