The malls in the portfolio are, in Alabama, the 1.3-million-sf Bel Air Mall in Mobile and the 527,000-sf University Village, in Auburn; in Georgia, the 508,000-sf Glynn Place in Brunswick, and the 536,000-sf Valdosta (GA) Mall; the 450,000-sf Greenville (NC) Mall; and the 524,000-sf Colonial Mall Myrtle Beach (SC). The open-air assets, both near Birmingham, AL, are the 440,000-sf Pinnacle at Tutwiler Farm and the 644,000-sf Promenade at Tutwiler Farm.
Many of the properties are part of a portfolio that GG&A's parent company, Sydney, Australia-based Babcock & Brown bought http://www.globest.com/news/535_535/retail/145458-1.html in a joint-venture deal last year. Including those properties, GG&A manages or holds interests in 22 mall across the US.
Babcock agreed in May to purchase GG&A in a deal to close some time next month. The firm invests in a variety of industries around the world.
Jones Lang LaSalle's retail operation manages about 60 regional malls in the US and 280 centers around the globe. In May, Walton Street Capital retained Jones Lang to lease and manage two former GG&A assets in the Boston area.
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