Majority ownership changes hands in Legends Outlets

Majority ownership in the Legends Outlets, a shopping center in Wyandotte County’s Village West, has changed from one large investment firm to another.

Walton Street Capital LLC has bought controlling interest in the development from KKR & Co. LLP, according to the Kansas City Business Journal.

Dan Lowe, owner of Kansas City-based Legacy Development, formerly with RED Development, said Wednesday in a news release that Legacy Development “retains minority ownership along with the management, leasing and operations in partnership with the new majority owner, a privately held, Chicago-based private equity firm.”

Lowe developed the 1.2-million-square-foot retail center while at RED Development.

He said the center is 98 percent leased, with more than 100 stores, restaurants and entertainment spots. He said the new ownership will invest in the center, particularly to draw more tenants to the west end of the district.

Plans also call for construction of a 250-unit apartment project and the opening of a Residence Inn.

This story was originally published January 13, 2016 at 5:31 PM with the headline "Majority ownership changes hands in Legends Outlets."