Tuesday, March 27, 2018

Mall Mergers Accelerate with Brookfield Property's Buyout of GGP

NREI Online

As the age of Amazon takes its toll on retailers, mall owners are finding it may be better not to confront the turmoil on their own.

GGP Inc., the second-largest U.S. mall landlord, agreed Monday to be taken over by a unit of Toronto-based Brookfield Asset Management Inc. The deal follows an agreement in December for Australia’s Westfield Corp, which has malls across the U.S., to be acquired by Unibail-Rodamco SE. Meanwhile, Macerich Co. and Taubman Centers Inc. have faced pressure from activist investors.. . . more

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