CalPERS acquires Las Vegas mall for $1.1b
A joint venture led by the $304 billion California Public Employees’ Retirement System has acquired The Miracle Mile Shops, a 200-store, 475,000-square-foot indoor shopping mall within the Planet Hollywood Resort on the Las Vegas Strip.
Terms of the deal were not announced, but news sources report the purchase price was just under $1.1 billion.
CalPERS purchased the mall through Institutional Mall Investors LLC, the retirement system’s jointventure with Miller Capital Advisory. The sellers were Tristar Capital and RFP Holdings.
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