The acquistion comprises the 1.32-million-sf Streets at Southpoint in Durham, NC and six major centers in other markets. Rouse also raised its equity share in the 31-year-old, 1.48-million-sf Perimeter Mall in Atlanta.

Simon Property Group of Indianapolis, IN and Westfield America Trust of Sydney, Australia participated in the deal first announced Jan. 16 and closed May 3. Simon and Westfield's acquired properties are described on GlobeSt.com's Washington, DC page.

In the Southeast, Rouse raised its ownership interest to 50% in the 505-store Perimeter Mall which was an existing joint venture between Rouse and Rodamco. The mall, at 4400 Ashford Dunwoody Road, Atlanta, is anchored by Rich's (315,000 sf), Macy's (234,000 sf) and Nordstrom (230,000 sf).

In Durham, Rouse is now the 100% owner of the 590-tenant Streets at Southpoint. The center is anchored by Belk's, Hecht's and JCPenney.

Rouse's $1.5 billion investment in the total eight regional retail sites acquired includes $675 million of assumed debt and perpetual preferred stock, according to a prepared statement from the Maryland developer.