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Macerich, Alaska fund buy Chicago retail property
BOSTON |
BOSTON Jan 10 (Reuters) - An affiliate of mall owner Macerich Co (MAC.N) said on Thursday it and a fund that manages oil revenue for the state of Alaska acquired a Chicago retail property for $515 million.
The Macerich Partnership and the Alaska Permanent Fund Corp said they bought The Shops at North Bridge, a 680,933 square foot (63,260 sq metre) development with retail shops and office space.
Macerich, which also owns properties in Los Angeles, New York, San Francisco, Washington and Phoenix, Arizona, said the deal market its entry to the Chicago market.
Macerich said it and the Alaska fund bought the property from Chicago developer The John Buck Co, real estate funds operated by Morgan Stanley (MS.N) and Westfield Group. (Reporting by Scott Malone; Editing by Andre Grenon)
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