August 19, 2004
The Mills Corporation acquires a 50% interest in General Motors Asset Management’s regional nine-mall, 9.6 million-square-foot property portfolio.
On August 18, in a $1.033 billion transaction, The Mills Corporation agreed to purchase a 50% interest in General Motors Asset Management’s regional nine-mall, 9.6 million-square-foot property portfolio, which currently enjoys an 86% occupancy. Willkie represented The Mills Corporation in this competitive auction transaction. JP Morgan and MetLife provided more than $500 million of nonrecourse mortgage debt in connection with the closing. The deal was handled by partners Eugene Pinover, Douglas Ulene and Henry Cohn, and associates Peter Greenspan and Alycia Green.
