Affiliates of Walton Street Capital, a private real estate investment firm, and Alberta Development Partners, a Denver-based real estate acquisition, development and investment firm, have acquired Foothills Mall in Fort Collins.

The price was not disclosed.

The new owners plan to reposition the 753,000-square-foot mall, which is located off College Avenue and anchored by Macy’s and Sears.

“The repositioning of Foothills Mall will represent a significant commitment by the developers to create a major, completely updated retail destination for the city of Fort Collins and Northern Colorado,” David Joseph, a principal at Walton Street Capital, said in a release posted on the city of Fort Collins website.

“This is an exciting time for our residents and region,” said City Manager Darin Atteberry. “Redevelopment of this property has been a very high priority for the city for a long time, and we are thrilled that Walton Street Capital and Alberta Development Partners have recognized the potential of his property.

“Our community deserves a premier shopping facility in the midtown area to complement the strong retailers in other parts of town, and now it’s happening. This is excellent news for Fort Collins.”