Embattled retail REIT Mills Corporation has greed to sell property stakes worth $981 million. Chevy Chase, Md.-based Mills Corp. announced Monday that it will sell its interests in Vaughn Mills, a Canadian mall, plus the St. Enoch Centre in Scotland and Spain's Madrid Xanadu retail complex.
Ivanhoe Cambridge will buy the interests from Mills. Mills will reportedly use the proceeds to pay down a portion of its senior term loan with Goldman Sachs Mortgage Company (GS).