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JPMorgan sells U.S. mall stakes
Transactions - NOVEMBER 14, 2019

JPMorgan sells U.S. mall stakes

by Andrea Zander

Brookfield Property Partners has bought stakes in four U.S. shopping centers from JPMorgan Chase & Co., reported Bloomberg, citing people familiar with the matter.

New York State Teachers’ Retirement System (NYSTRS) also had a stake in two of the malls, one of the sources said. In a simultaneous deal, JPMorgan and NYSTRS bought Brookfield’s stake in a fifth mall, the Bridgewater Commons in New Jersey.

The transaction valued the five malls at $3.2 billion, including debt.

The other assets include the Perimeter Mall in Atlanta, Park Meadows in Denver, Towson Town Center in Maryland and the Shops at Merrick Park in Coral Gables, Fla.

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