AustralianSuper Buys Stake in Biggest Open-Air Mall
Arising from Chapter 11 bankruptcy nearly five years ago, General Growth Properties Inc., a major player in the realm of mall asset management, sold a 25% interest in Honolulu’s Ala Moana Center for US$ 1.37 billion to AustralianSuper, a massive superannuation institutional investor. The deal values Ala Moana Center at approximately US$ 5.5 billion. General Growth Properties has the option to sell an additional 12.5% equity interest within a specified time frame. Ala Moana Center is the world’s biggest open-air mall, boasting over 290 shops and 80 restaurants.[ Content protected for Sovereign Wealth Fund Institute Standard subscribers only. Please subscribe to view content. ]
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