NEW YORK CITY—Amid General Growth Properties' earnings call to report on the second quarter, at least one viewpoint was exceptionally clear: the company is very bullish on Manhattan retail in Midtown. It acquired a 50% stake in an office tower with retail in the area and agreed to pick up two more 50% stakes in retail complexes there.

The company bought half of the interest in 685 5th Ave. for $521 million. The property has approximately 115,000 square feet of office space and 25,000 square feet of retail space.

The company also entered into an agreement to acquire a 50% interest in 530 5^th Ave. for $295 million. The property features approximately 58,000 square feet of retail space. The acquisition is expected to close in the second half of this year.

The company also entered into an agreement to acquire a 50% interest in 218 West 57^th St. for about $82 million. The property comprises approximately 35,000 square feet of retail space. The acquisitionis expected to close in mid-2016.

General Growth already owns 200 Lafayette St., a retail and office building. The firm, which has focused on redeveloping and leasing up its malls to boost growth, also is adding properties in the major shopping districts of US cities including San Francisco and Chicago, where the company is based, notes Bloomberg News.

“Flagship street retail assets offer very compelling opportunities to create shareholder value,” CEO Sandeep Mathrani said on the company's earnings conference call. “If we can opportunistically grow our business in street retail, we will.”