Los Angeles-based Westfield America has completed the acquisition of nine regional shopping centers from Cleveland-based The Richard E. Jacobs Group. The purchase ups the Westfield America portfolio to 48 shopping centers with more than 48 million sq. ft. of retail space.
The purchase price is valued at $756 million, including $41 million in cash, $210 million in equity and $505 million of mortgage debt.
The nine properties consist of 9.7 million sq. ft. of gross leasable area located in six states. The centers include: Belden Village, Canton, Ohio; Chesterfield Mall, Chesterfield, Mo.; Eastridge, Mall, Gastonia, N.C.; Gateway Mall, Lincoln, Neb.; Midway Mall, Elyria, Ohio; Richland Mall, Mansfield, Ohio; Southcenter Mall, Seattle; Southlake Mall, Merrillville, Ind.; and SouthPark Center, Strongville, Ohio.