General Growth Completes Spinoff of 30 Retail Centers Into Rouse
This article is for subscribers only.
General Growth Properties Inc. completed its spinoff of 30 retail properties into a publicly traded company, allowing the second-largest U.S. mall owner to focus on better-performing centers.
The portfolio was spun off to shareholders as Rouse Properties Inc., a real estate investment trust based in New York, Rouse said today in a statement. The name of the new REIT comes from General Growth’s $11.3 billion purchase of commercial-property developer Rouse Co. in 2004.