TIAA Pays GGP $410M For Stake In Vegas Retail Complex

Law360, New York (May 17, 2013, 3:26 PM EDT) -- Continuing a recent deals streak for both parties, General Growth Properties has signed off on a new joint venture with TIAA-CREF, selling it a stake in a massive retail center within Las Vegas' Venetian and Palazzo hotels for $410 million, the parties said Thursday.

Per the deal, TIAA-CREF will now hold 50 percent of the massive retail complex in the two luxury hotels known as The Grand Canal Shoppes and The Shoppes at the Palazzo, according to a statement. It was unclear how TIAA-CREF plans to...
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