University Park Village in Fort Worth, Texas. These properties were acquired as part of the closing of Washington Prime Group’s $4.3 billion acquisition of Glimcher Realty Trust. Simon had previously spun off its strip retail centers and small regional malls into Washington Prime Group. In September, Washington Prime announced the acquisition that would create a retail REIT called WP Glimcher with 119 assets.
A week ago, Simon was part of a $1.8 billion joint venture announced by Canadian retailer Hudson’s Bay Co. that calls for HBC to contribute 42 owned or ground-leased properties totaling 5.4 million square feet.
In March 2012, Simon went on a $3.5 billion spending spree, acquiring a stake in Klepierre, a major European retail and office player, and buying out its joint venture partner in The Mills U.S. shopping center properties. It didn’t have as much success earlier, losing out on bids to take over Taubman Centers Inc. in 2002 and General Growth Properties in 2009.
Macerich built up its assets in November when it acquired the 49 percent stake of its joint venture partner – the Ontario Teachers’ Pension Plan Board – in five super regional malls, three in California and one each in Portland and Queens, NY., for $1.89 billion, including assumption of debt.
11
Bendix Anderson / December 15, 2014
“The market has continued to surprise to the upside”
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This 3,565 SF retail
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Matt Abbott
o(850) 785-2233
m(850) 814-8154
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507 West Highway 90
Bonifay, FL
$147,000
3,565 Sq. Ft.
Retail
General Commercial
4-Lane Divided Hwy.
Darren Haiman
office(850) 785-2233
mobile(850) 814-3662
nationsre.com