Australian firm buying part of Short Pump Town Center
Australian firm QIC is buying a quarter interest in Short Pump Town Center, according to the Richmond Times-Dispatch.
The deal is part of a $2.05 billion deal with QIC that includes eight regional malls owned or partly owned by Forest City Enterprises Inc. of Cleveland.
After the deal, Forest City will own 25.5 percent of the mall, and QIC will own 24.5 percent. Pruitt Associates will remain owner of the other half, according to the Times-Dispatch.
The mall, which was opened in September 2003, is set for renovation in 2014. It will also announced about a dozen new tenants in the next few months.