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General Growth Sells Stake in Las Vegas Mall for $1.25 Billion

  • Mall landlord receives proceeds of about $830 million
  • Fashion Show center is home to about 250 stores on the Strip

General Growth Properties Inc. said it sold a 50 percent stake in Fashion Show, a high-end shopping mall on the Las Vegas Strip, for $1.25 billion.

The transaction, disclosed in the mall owner’s second-quarter earnings release Monday, resulted in about $830 million proceeds to the company. Chicago-based General Growth didn’t disclose the buyer in the deal, which was completed after the end of the quarter.