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Article: Rubin acquires Sam Zell's retail management biz. (Rubin Organization)(Brief Article)
- Article from:
- Daily News Record
- Article date:
- January 3, 1997
CopyrightCOPYRIGHT 1997 Conde Nast Publications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- The Rubin Organization, an aggressive Philadelphia-based real estate firm, has purchased Sam Zell's portfolio of 26 retail-property management contracts.
Terms of the acquisition, which doubles the amount of retail space managed by Rubin to nearly 25 million square feet, were not disclosed.
Zell, the Chicago-based real estate entrepreneur, heads up the Equity Property and Development Limited Partnership. He retains ownership of the 13 malls and 13 community centers in the deal.
Among the larger regional malls that Rubin will now manage are Ford City in Chicago and South Towne Center in Sandy, Utah, both exceeding 1 million square feet, as ...