The sale is part of an initiative announced by Taubman in February to sell its 50% interest in three Asian shopping centers—Starfield Hamam, CityOn.Xi’an (Xi’an, China) and the CityOn.Zhengzhou (Zhengzhou, China).
The Marina Thermal Facility is a combined heat and power generation facility that provides electricity and hot and chilled water to both the Borgata Hotel Casino & Spa and The Water Club.
Daiwa House USA will acquire 60% of the equity interest in Trumark and will commit to make additional capital contributions as funding to further develop Trumark’s business.
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