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Dallas — Westfield Corp. has sold five regional malls to a partnership of Dallas-based Centennial Real Estate Company, Montgomery Street Partners and USAA Real Estate for $1.1 billion.
Centennial will manage the centers, while Montgomery Street and USAA will be financial partners; Westfield also will retain a minority interest in the centers.
The five centers comprise more than 6 million square feet of retail space and were 97 percent occupied. The centers are: Connecticut Place Mall, Milford Connecticut; Main Place Mall in Santa Ana, California; Hawthorn Mall in Vernon Hills, Illinois; Fox Valley Mall in Aurora, Illinois; and Vancouver Mall in Vancouver, Washington.