Mid-Market Report: Taubman Buying Starwood Malls

By

Published June 23, 2014

| FOXBusiness

Taubman Centers has agreed to sell seven malls to Starwood Capital group for $1.4 billion in cash and debt.

Taubman says once the deals close it expects mall tenant sales to increase by more than $100 per square foot.       

Taubman Centers currently operates 27 retail properties in 15 states and in South Korea.

Samsonite is expanding its presence in the outdoor luggage space. It's acquiring Gregory Mountain products from Black Diamond for $85 million. Gregory, based in Salt Lake City, specializes in backpacks.

Black Diamond says part of the proceeds from the sale will be used to focus on its fastest-growing brands and to repay debt.

And American Caresource Holdings is buying two health-care clinics in Florida.

The company is picking up the assets of Bay Walk-In Clinic in Panama City and Panama City Beach.

The deal includes two clinics that provide pediatrics, family medicine and minor emergency care.

Terms were not disclosed.

URL

http://www.foxbusiness.com/markets/2014/06/23/mid-market-report-taubman-buying-starwood-malls/