Wednesday, November 1, 2017

Mall owner GGP buys up more Sears stores

Image result for searsMall operator GGP is taking control of more Sears anchor stores.

Chicago-based GGP and Seritage Growth Properties, Sears’ real estate investment trust spinoff, previously split ownership of 12 Sears anchor stores through a joint venture formed in 2015.

In July, GGP bought out Seritage’s stake in eight of those stores. GGP also bought a 50 percent interest in five more Seritage-owned Sears stores. The deals, disclosed Tuesday in GGP’s third-quarter earnings report, totaled $247.6 million.. . . moreSearsSearsSears

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