---
title: Why Dillard’s and Trademark Bought a B Mall at a 20% Cap Rate
description: Dillard’s and Trademark acquired a Texas mall at an 80% discount. See why retail focus, control, and repositioning make this contrarian bet work.
---

[Insights and Research in Commercial Real Estate | CRE Analyst ](https://www.creanalyst.com/insights)

# [Why Dillard’s and Trademark Bought a B Mall at a 20% Cap Rate](https://www.creanalyst.com/insights/why-dillards-and-trademark-bought-a-b-mall-at-a-20-cap-rate)

 Written by [CRE Analyst](https://www.creanalyst.com/insights/author/cre-analyst) | Aug 25, 2025 9:27:49 PM

Dillard’s and Trademark just bought a B mall.   
Here’s why it makes sense....

Pricing:  
-- ~20% cap rate  
-- 80% below its peak value  
-- Buying out of an orderly bankruptcy liquidation

Capital allocation:  
-- Dillard’s is profitable (~9% margin)  
-- What do you do with cash? Cost control > investing in apparel   
-- At least this is accretive vs. distributing cash

Control and expertise:  
-- Dillard’s gets flexibility to re-tenant and reshape the environment  
-- Trademark adds a proven track record of repositioning malls

The bigger play?  
-- The Dillard family members are large shareholders  
-- They're all in on retail and all in on Texas and Florida  
-- If Longview works, this could be a repeatable playbook

Kudos to FastTrack guest speaker [Terry Montesi](https://www.linkedin.com/in/terry-montesi/) for continuing to pioneer retail opportunities!

More info: [https://lnkd.in/dxnugVWm](https://lnkd.in/dxnugVWm)

[View full post](https://www.creanalyst.com/insights/why-dillards-and-trademark-bought-a-b-mall-at-a-20-cap-rate)

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