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.
