Kirkland, Paul Hastings Steer Starwood In $1.6B Mall Buy

Law360, New York (November 18, 2013, 6:51 PM EST) -- Starwood Capital finished acquiring a majority interest in seven regional U.S. malls from the Westfield Group for $1.6 billion, the companies said Monday.

The 7.9 million square feet of property are spread across Ohio, Washington, California and Indiana. It's similar to a June 2012 deal where Starwood bought seven malls in five states from Westfield, leading to the formation of the purchasing subsidy Starwood Retail Partners. The malls in Monday's purchase are 96 percent occupied on average, Starwood said.

“I believe we can build a differentiated...
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