Simon boosts its position in Meadowood
Simon Property Group has taken a larger ownership stake in Meadowood Mall in Reno.
The company headquartered in Indianapolis said last week it will own a 50 percent interest in the 876,847-square-foot center after it closes a deal with Farallon Capital Management LLC.
Farallon Capital Management was a joint venture partner with Simon Property Group in partial ownership of 26 shopping centers across the United States.
Simon will buy out that interest in a transaction valued at $1.5 billion. The value of Meadowood Mall wasn’t broken out separately.
Simon Property Group will continue as manager of Meadowood Mall.
“We actually know how important it is. We don’t get benefit or delight in denying people. We all love someone who’s not working,” a veteran Nevada DETR employee told The Nevada Independent.