QIC Real Estate Unit Nabs $435.6M Stake In US Mall Portfolio

Law360, New York (June 4, 2013, 6:11 PM EDT) -- A real estate unit of Australia's institutional investment manager QIC Ltd. has nabbed a $435.6 million stake in eight U.S. malls through a new joint venture with Forest City Enterprises Inc., marking the company's entry into the American retail markets, QIC announced on Tuesday.

Per the deal, QIC Global Real Estate is taking a 49 percent equity interest in each of the malls. Half of the portfolio properties are located in California, with the rest located in Nevada, Virginia, West Virginia and Pennsylvania. On average, the...
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