Four St. Louis-area malls to be sold
St. Louis – The Australian shopping mall company Westfield Group is giving up control of four St. Louis-area malls to CBL and Associates Properties as part of a $1 billion deal.
Another Westfield shopping center, Crestwood Mall, will be put up for sale.
Westfield says it agreed to sell Chesterfield Mall to CBL and transfer the West County Mall, Mid Rivers Mall and South County Center to a joint venture between Westfield and CBL.
CBL will contribute St. Clair Square, five other malls in the U.S. and three associated centers to the new joint venture.