Bridge Group Investments and Steerpoint Capital Announce Acquisition of the Antelope Valley Mall

LOS ANGELESDec. 8, 2022 /PRNewswire/ — Today Bridge Group Investments, founded by the Mersho family in 2004, and Steerpoint Capital announced that they have closed on an acquisition of the Antelope Valley Mall in Palmdale, California at a purchase price of $60 million.


Located near some of the region’s largest employers, the enclosed shopping mall is anchored by Dillard’s, Macy’s, and JCPenney. The firms plan to re-tenant the mall’s vacant Mervyn’s big-box store and enhance the property by adding new amenities, including elevated dining options, experiential entertainment offerings, and a reimagined food court.


The Antelope Valley Mall is the second property acquired by Bridge Group Investments and affiliates with support by Steerpoint Capital. In April, the firms acquired The Shops at Montebello, a super-regional shopping center in Montebello, Calif. The acquisitions are part of Steerpoint Capital’s strategy to build a high-yield retail portfolio with significant, risk-adjusted returns.


“Having grown our family business from a single brick and mortar store to over 170 retail locations across the country, we know what works and have confidence in Steerpoint Capital’s investment strategy,” said George Mersho, Managing Principal of Bridge Investment Group. “This is a unique time in the lifecycle of commercial real estate, particularly retail, and with the right approach, there is an opportunity to transform obsolete properties while generating strong financial returns.”


Steerpoint Capital is a Black-owned investment management firm led by Managing Partner Bo Okoroji, who previously served as the Head of U.S. Investments at Unibail-Rodamco-Westfield (URW) and held various senior roles at Simon Property Group. Over the course of his career, Okoroji has participated in over $11 billion in commercial real estate transactions. He currently serves as an advisory board member for CREUnited, an alliance convened by Walker & Dunlop, focused on increasing assets under management by minorities.


The firm’s current strategy is focused on adaptive reuse conversions and retail repositioning opportunities. By focusing on conversion arbitrage in the hotel, office and retail sectors, Steerpoint seeks to capitalize on pandemic-induced dislocation while mitigating rising construction costs.


“This property has tremendous potential. Its location, retail tenants, and reputation in the market have positioned it well for growth. With the right vision, the Antelope Valley Mall can continue to dominate in the retail arena and beyond in this market space,” said Managing Partner Bo Okoroji.


Okoroji added, “Bridge Group Investments brings decades of retail expertise and a proven track record of generating significant returns within the space. Its partnership will be invaluable to elevating the Antelope Valley Mall.”


About Bridge Group Investments

Bridge Group Investment is the family office for the Mersho family, led by George Mersho and Ralph Mersho. Since its founding in 2004, Bridge Group Investment has invested more than $400 million in retail, industrial and multifamily real estate and has facilitated $1.2 billion in transactions. The Mersho family opened Shoe Palace in 1993, growing the business through hard work and ingenuity from a single brick-and-mortar location to a chain of more than 170 stores across the Southwest.


About Steerpoint Capital (SPC)

Steerpoint Capital is a commercial real estate investment management and advisory firm focused on executing value-add and opportunistic real estate strategies. Equipped with capital commitments from a diverse pool of partners, ranging from family offices and domestic and international investment funds, SPC’s current strategy focuses on executing adaptive reuse conversions and retail repositioning opportunities in high demand markets within Southern California and Sunbelt States. For more information visit


About Antelope Valley Mall

Antelope Valley Mall is an enclosed shopping center in Palmdale, California, the high desert area of northern Los Angeles County. Anchored by Dillard’s, Macy’s, and JCPenney, as well as many of the nation’s most desirable retailers and restaurants, including Dick’s Sporting Goods, Tillys, Old Navy, H&M, Victoria’s Secret, Red Robin, Oishi Japanese Sushi Bar and Grill, Claim Jumper, Blaze Pizza, Cinnabon, and a 16-screen stadium-style Cinemark theater, the center features more than 120 shops, eateries and entertainment offerings. The 1 million-square-foot Antelope Valley Mall is located within a short drive of some of the area’s largest employers, including five aerospace/aviation firms with more than 50,000 employees. For more information, visit the center’s website at

SOURCE Steerpoint Capital

21255 Burbank Boulevard, Los Angeles, CA 91367

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