For its contribution to the joint purchasing agreement, Rouse gets the interests in eight regional malls from Texas to New Jersey. Those properties include Texas's Collin Creek and North Star shopping centers; Georgia's Perimeter Mall; North Carolina's The Streets at Southpoint, Illinois' Water Tower Place and Oakbrook Centers; Michigan's Lakeside Mall and New Jersey's Willowbrook.
"Each of these centers fits our desired strategic profile-a great location in a major market; multiple, high quality department stores; and an excellent tenant line up," Rouse chairman and CEO Anthony W. Deering says of the deal. "We believe this acquisition and these properties will add significantly to funds from operations and shareholder value from day one."
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