General Growth Properties reviewing acquisition bid
BPC Staff Nov 14, 2017 | 5:19 pm
<1 min read time
110 wordsAll Latest News, Real Estate and DevelopmentA Canadian real estate firm is looking to acquire General Growth Properties, owner of the Coral Ridge Mall in Coralville and Jordan Creek Town Center in West Des Moines, the Corridor Business Journal reported. According to Bloomberg, General Growth is reviewing a $14.8 billion acquisition bid from Brookfield Property Partners LP of Toronto. The company is a unit of Brookfield Asset Management, which has focused on buying and renovating shopping centers to take advantage of the land they occupy in urban areas. Brookfield Property Partners, which already has a 34 percent ownership stake in General Growth, had previously denied rumors that it was interested in taking over the company.