New York (HedgeCo.Net) – Real estate Advisor Arcturus Group and $12.5 billion hedge fund Avenue Capital Management announced that a group they have formed has purchased a mall located at the main entrance to Disneyland Resort and the Anaheim Convention Center, the Anaheim GardenWalk.

The terms of the GardenWalk acquisition, in which Arcturus and Avenue have been joined by Elliott Management, were not disclosed.

“The recent rezoning allowing more entertainment tenancy at the property creates enormous potential for GardenWalk as an entertainment-oriented retail destination given its design and location. Our group intends to unlock the potential of this magnificent, but previously financially challenged, asset by capitalizing on its proximity to the 20 million annual visitors to Disneyland, which recently invested over $1 billion on a major expansion, 15,000 hotel rooms, and the largest convention center on the West Coast,” said Jonathan Mayblum, co-founder of Arcturus.