Breaking News Bar
updated: 10/10/2012 5:13 PM

Deal reported for new Woodfield investors

hello
Success - Article sent! close
  • Shoppers crowd Woodfield Mall in Schaumburg.

       Shoppers crowd Woodfield Mall in Schaumburg.
    DANIEL WHITE PHOTO | Staff Photographer

 
Daily Herald staff report

Sacramento, Calif.-based California Public Employees' Retirement System has agreed to invest more than $500 million for a 50-percent stake in Woodfield Mall in Schaumburg, according to a Crain's Chicago Business report Wednesday.

The property is valued at about $1 billion, the report said.

Order Reprint Print Article
 
Interested in reusing this article?
Custom reprints are a powerful and strategic way to share your article with customers, employees and prospects.
The YGS Group provides digital and printed reprint services for Daily Herald. Complete the form to the right and a reprint consultant will contact you to discuss how you can reuse this article.
Need more information about reprints? Visit our Reprints Section for more details.

Contact information ( * required )

Success - request sent close

"We are working with our partner, Miller Capital, on this deal," said CalPERS spokesman Joe DeAnda. "However, it is still pending, and there is not a lot more we can add until the deal closes."

The 41-year-old shopping mall has nearly 300 stores and 2.3 million square feet, anchored by Macy's, Nordstrom, Lord & Taylor, JCPenney and Sears.

Spokesmen for Woodfield did not return calls for comment.

Share this page
Comments ()
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the X in the upper right corner of the comment box. To find our more, read our FAQ.