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Taubman sells seven malls to Starwood



An affiliate linked to Starwood Capital Group is set to purchase a portfolio of seven malls in five different states from Taubman Centers Inc.Starwood Retail Partners is set to pay $785m in cash and either assume or repay $620m in debt for this deal.

The deal has been approved by the board of directors of Taubman and its closing date is set for the fourth quarter. The malls included in this transaction are: MacArthur Center, Norfolk, GLA – 937000 sg. ft; Stony Point Fashion Park, Richmond, GLA – 662000 sq. ft; Northlake Mall, Charlotte, NC – 1.07 million sq. ft; The Mall at Welling Green, Wellington, GLA – 1.2 million sq. ft; The Shops at Willow Bend, Plano, GLA – 1.38 million sq. ft; The Mall at Partridge Creek, Clinton Township, GLA - 600000 sq. ft; Fairlane Town Center, Dearborn, GLA – 1.97 million sq. ft. 

This transaction which is capitalizing on the need for high-end quality malls by investors, forms part of Taubman’s effort to fund new development, increase net asset value and maximize its portfolio’s performance. The purchase will expand the retail holdings of Starwood to 28 properties with a total of 26.8 million ftІ in 15 states.



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K in Lautern GLA:224 966 SF
ADDRESS: 67655 Kaiserslautern
Germany . Kaiserslautern
K in Lautern
Olympia Einkaufszentrum GLA:602 779 SF
ADDRESS: Hanauer Straße 68, 80993
Germany . Munich
Olympia Einkaufszentrum
Shopping City Süd GLA:1 862 156 SF
ADDRESS: Europaring 2334 Vösendorf
Austria . Vienna
Shopping City Süd
212 Istanbul Power Outlet GLA:753 474 SF
ADDRESS: Mahmutbey Merkez Mah. Taşocağı Cad. No:5 Bağcılar  /  İstanbul
Turkey . Istanbul
212 Istanbul Power Outlet


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