The latest purchase marks the largest retail deal in Colorado this year.
The deals are expected to close later this month.
Mary Sullivan, senior vice president for the Denver office of CB Richard Ellis, handled the transaction, as well as an office purchased in Houston and Dallas on behalf of TGS, for a total value of $200 million.
Sullivan's $200-million deal is likely the largest transaction by a Denver broker this year.
TGS is buying the outlet malls from Baltimore-based Prime Retail Inc.
Together, the two outlet centers, one along the southeast corridor in Castle Rock and the other in the northern Colorado city of Loveland, have about 808,000 sf of gross leasable sf.
They are part of a collateral package of 15 properties Prime owns that secures its "Mega Deal" non-recourse financing mortgage loan with an outstanding principal balance of about $338.9 million.
The outlet malls face stiff competition from the recently opened $300-million Colorado Mills upscale outlet center in Lakewood. But Sullivan tells GlobeSt.com the outlet malls will do fine once the newness of Colorado Mills wears off.
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