Topanga Plaza Partner to Be Sold for $1 Billion
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A definitive agreement has been reached for the previously announced sale of CenterMark Properties Inc., which owns 42% of the Topanga Plaza.
Prudential Insurance Co. of America tentatively agreed last month to sell St. Louis-based CenterMark for $1 billion to a group led by General Growth Properties Inc. of Des Moines, Iowa. CenterMark also owns interests in 18 other shopping malls.
The remaining 58% of Topanga Plaza is owned by JMB Income Properties, a Chicago real estate developer.
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