Dallas and Birmingham, Ala. — Dallas-based real estate investment firm Centennial has acquired the operating platform of Birmingham-based Bayer Properties. Bayer’s management portfolio includes nearly 8 million square feet of open-air fashion, power and neighborhood retail centers, as well as mixed-use properties.
The combined organization will utilize the Centennial name and the company’s headquarters will remain in Dallas. Bayer’s Birmingham headquarters will remain operational and will become a regional office for Centennial. Bayer’s president, Jami Wadkins, will join Centennial as Chief Operating Officer immediately upon acquisition.
“Centennial’s current portfolio consists primarily of enclosed malls in major markets that are well-positioned for or are currently under redevelopment,” says Whitney Livingston, president of Centennial. “Bayer has been an owner, operator and developer of open-air retail space for almost three decades; its merchandising, placemaking, design and attention-to-detail are exceptional, and its staff of seasoned professionals will be an incredible addition to Centennial’s experienced team and platform.”