FORT WAYNE, Ind. (WOWO): A Canadian investment firm has proposed to buy the company that owns the Glenbrook Square mall in Fort Wayne.
Glenbrook Square has been owned by General Growth Properties since 2013. Now Brookfield Asset Management has offered a proposal to buy GGP for $14.8-billion in an effort to expand its real estate footprint, according to Business Insider.
Brookfield already owns roughly 34% of GGP’s shares, which it bought in 2010. GGP has acknowledged the offer, and the company says it will “look into it.”
There’s no word yet on what a deal would mean to the 127 shopping centers GGP owns across the country.