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Exterior of mall Alderwood Mall in the Seattle suburb of Lynwood, WA is among more than 125 retail properties in GGP’s portfolio.

CHICAGO—GGP Inc. on Monday confirmed that it had received an unsolicited bid from Brookfield Property Partners (BPY) to acquire the outstanding shares of the mall REIT that it doesn’t already own. At $23 per share, the deal would be valued at approximately $14.8 billion.

Paul Bubny

Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.

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