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.
- ALEX B FRUIN INHERITANCE TRUST; CANDACE F STEFANSIC INHERITANCE TRUST; CANDANCE F STEFANSIC INHERITANCE TRUST; FRUIN, ALEX B TRUSTEE; FRUIN ALEX B INHERITANCE TRUST; STEFANSIC, CANDACE F TRUSTEE; STEFANSIC CANDACE F INHERITANCE TRUST; STEFANSIC CANDANCE F INHERITANCE TRUST
- ROSS, BRIDGETT D
- COOKE, ETHEN LANYARD TRUSTEE; COOKE, ETHEN LEWIS ESTATE
- JACOBS, JESSICA ALEXANDRA; JACOBS, ERIKA BESS