High Point's International Home Furnishings Center Building to be Sold

HIGH POINT, N.C.-High Point Market's International Home Furnishings Center building is in agreement to be sold by Bassett Furniture and other shareholders, according to a document filed with the Securities and Exchange Commission. With a purchase price of $275 million, the buyers are identified as an entity called IHFC Acquisition Co.

The filing mentions a confidentiality agreement signed in October by the International Home Furnishings Center Inc., The Related Companies--a partner in World Market Center Las Vegas, L.P. and Bain Capital Partners, LLC.

The filing lists the closing date as later this month, unless parties decide to schedule it for the back half of April. When they close, Bassett will also enter into a new five-year lease at World Market Center in Las Vegas.

With about 47 percent of the shares of the IHFC, Bassett Furniture has previously stated that it was negotiating to sell its shares.

HFN Staff | News & Commentary

HFN provides detailed information on the key home classifications: Housewares, Tabletop, Floor Covering & Rugs, Furniture, Home Textiles, Lighting, Home Decor, Mattresses & Bedding, Gifts, Major Appliances and Consumer Electronics as well as Business, Finance and Retail.


Subscribe to
HFN Omnichannel
Receive the news you need to know about the trends in the industry delivered right to your inbox.

Current Issue

  • HFN May digital issue


    May 2017

    COVER STORY: HFN Turns 90

    We commemorate HFN's 90th anniversary by paying tribute to the iconic retailer and supplier brands--and the people--that have helped the industry flourish, then and now.


    • Up & Coming Leaders - The home industry is in capable and visionary hands as this year’s 40 Under 40 list attests. Today’s young leaders span all disciplines and varied levels of operation.
    • Omnichannel Retailing - In the Mobile App World, Time is Money