CalPERS becomes full owner of Chicago-area retail center

10/11/2012 | Pensions & Investments

CalPERS, which owns a 50% stake in the Woodfield retail mall in Schaumburg, Ill., is buying out the 50% stake owned by the General Motors pension fund for more than $500 million, sources say. The deal gives CalPERS full ownership of the property, the nation's ninth-largest mall with more than 2.2 million square feet. The purchase price implied a valuation of more than $900 per square foot for the property.

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