General Growth completes $12.6 billion merger

Tuesday, Nov. 16, 2004 | 11:13 a.m.

General Growth Properties completed the merger with Maryland-based Rouse Co., which among its holdings includes the Fashion Show mall and the master-planned community of Summerlin, which includes some office properties.

The previously announced sale price was $12.6 billion in cash and debt.

The sale would put General Growth Properties in charge of more than half of all mall space in the Las Vegas Valley.

The Rouse acquisition adds 37 regional shopping malls, four community centers, and six mixed-used projects totaling 40 million square feet to General Growth's portfolio of shopping centers. The sale also includes about 9 million square feet of industrial and commercial properties, and undeveloped land in master-planned communities around the country.

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