RREEF recently made the decision to stop managing its portfolio of properties directly. A few weeks back it announced the firms taking over management of its industrial and office portfolios. Today the retail piece was announced. Jones Lang LaSalle was the big winner, scoring management duties on 29 centers, but four other firms were also tapped. (You can see how these firms rank in our annual Top Managers listing here.)
Here's the full list of the assignments:
Jones Lang LaSalle has been assigned 29 retail centers totalling approximately 5.7 million square feet. The properties are primarily concentrated on the West and East coasts in addition to Ohio and Western Pennsylvania.United Commercial Realty (UCR) has been assigned eight centers totalling approximately 1.7 million square feet concentrated in Texas.
Mid-America Asset Management Inc. has been assigned 12 centers totalling approximately 1.6 million square feet concentrated in the Midwest.
Crosland has been assigned four centers totalling approximately 1.5 million square feet concentrated in the Carolinas and Tennessee.
KeyPoint Partners has been assigned five centers totalling approximately 533,000 square feet concentrated in New England.