|
|
Article: REITs line up as potential buyers for Glendale Galleria. (Real Estate).(real estate investment trusts)(Brief Article)
- Article from:
- Los Angeles Business Journal
- Article date:
- October 21, 2002
- Author:
CopyrightCOPYRIGHT 2002 CBJ, L.P. 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)
|
SHOPPING Center REITs Macerich Co. and Westfield America Inc. are among a half-dozen bidders expected to pony up as much as $400 million for the Glendale Galleria.
The property, put on the market in July and first reported by the Business Journal last summer, is expected to sell by the end of the year, according to real estate sources.
Other bidders for the property, which is owned by a partnership of Cigna Corp., Costa Mesa-based private REIT Donahue Schriber and New York State Teachers' Retirement System, include real estate investment trusts Simon Property Group Inc. and Mills Corp. The 190,000-square-foot Macy's at the site is not for sale.
...