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Largest Shopping Center Sell-Off In History?

Posted by: Chris Steins
Thanks to: NREI Newsline
27 January 2005 - 7:00am

In what could be the largest single shopping center portfolio offer in history, CalPERS is selling 92 properties with a value of $2.8 billion.

"The portfolio includes 12.7 million sq. ft. of shopping center space that is scattered throughout the U.S.

...While the pension fund will consider bids for the whole portfolio, sources believe that it will ultimately be sold to multiple buyers. Pension funds, REITs, foreign investors and private investors are expected to bid on the properties, most of which are located in the mid-Atlantic region."

Full Story: Giant Retail Portfolio On The Market
Source: National Real Estate Investor, January 26, 2005
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