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

Deal reported for new Woodfield investors

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.

"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.

Article 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.