JMA Ventures announced Thursday that they’ve sold the Downtown Plaza to the Sacramento Kings ownership group.
The mall currently sits where a planned new arena will go.
In a news release, JMA said it would keep day-to-day mall operations going and work with the Kings during the transition into a new sports and entertainment complex.
“We are thrilled to close this transaction as it is another important step in the process of building a world-class arena in the heart of downtown with a vibrant, active development surrounding it,” Kings President Chris Granger said.
JMA bought the property from Westfield in 2012.