Michigan mall sells for $177M

REITs involved in both sides of deal

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A joint venture between Taubman Centers Inc. and Prudential Real Estate Investors has sold the Woodland Mall in Grand Rapids, Mich. The value of the transaction was $177.4 million. Pennsylvania Real Estate Investment Trust purchased the asset. Taubman Centers Inc., a real estate investment trust, owns and/or manages 22 urban and suburban regional and super regional shopping centers in 11 states. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....