Starwood Picks Up 2 US Shopping Centers From Macerich

Law360, New York (June 6, 2013, 3:12 PM EDT) -- Connecticut private equity firm Starwood Capital Group and affiliate Starwood Retail Partners have acquired two U.S. shopping centers with more than 1.6 million combined square feet of retail space from real estate investment trust The Macerich Co., Starwood Capital said Wednesday.

The real estate private equity investor assumes full ownership of the 620,000-square-foot Rimrock Mall in Billings, Mont., the largest shopping center in the state. Starwood Capital also acquired the 1 million-square-foot Northridge Mall in Salinas, Calif., located on Highway 101.

Terms of the deal were...
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