Report: Florida Mall owner to acquire Mall of Millenia owner
The interior of The Mall at Millenia. (Photo by: Jeffrey Greenberg/Universal Images Group via Getty Images)
ORLANDO, Fla. - The Orlando Sentinel reported on Tuesday that the owner of the Florida Mall in Orlando has agreed to acquire most of the company that owns Mall at Millenia.
They said that Simon Property Group agreed to acquire 80 percent of The Taubman Realty Group Limited Partnership for about $3.6 billion. The deal is reportedly still pending approval but is expected to close in the middle of this year.
Simon Chairman and CEO David Simon said that "by joining together, we will enhance the ability of TRG to invest in innovative retail environments that create exciting shopping and entertainment experiences for consumers, immersive opportunities for retailers, and substantial new job prospects for local communities," according to the Orlando Sentinel.
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Simon will reportedly acquire all of the company's common stock and the Taubman family will be a 20 percent partner.
Simon's other properties in Orlando include the Orlando International Premium Outlets, Orlando Vineland Premium Outlets and Orlando Outlet Marketplace.