Taubman Centers Inc. announced Thursday the completion of its $560 million purchase of The Mall at Green Hills and California-based The Gardens on El Paseo and El Paseo Village from Davis Street Properties.

The transactions consist of the assumption of $206 million of debt, $281 million in installment notes and the balance in 1.3 million partnership units in The Taubman Realty Group LP.

"These transactions crown a year of progress on our external growth initiatives," Robert S. Taubman, chairman, president and chief executive officer, said in a release. "With the addition of these assets, we've enhanced both the quality of our portfolio and its anticipated growth rate."

Taubman is based in Bloomfield Hills, Mich.