Taubman To Sell Seven Malls To Starwood Capital Group
Transactions Valued at $1.4 Billion Taubman Centers, Inc. (NYSE: TCO) and Starwood Capital Group ("Starwood"), a leading global private investment firm, today announced a definitive agreement whereby Starwood, through a controlled affiliate, has agreed to purchase a portfolio consisting of seven Taubman malls. The sale is part of Taubman's ongoing strategy to recycle capital, maximize its NOI growth rate and create net asset value for investors over time. "Given today's investor interest in high quality regional malls, we have taken advantage of the opportunity to further enhance our growth and valuation, while increasing our industry leading productivity and modestly reducing the size of our base," said Robert S. Taubman, chairman, president and chief executive officer of Taubman Centers. "As a result of these sale transactions, the company's development and redevelopment pipeline will have an even greater impact on our growth." Taubman Centers currently owns, leases and/or manages...
Taubman Schedules Second Quarter Earnings Release And Conference Call
Taubman Centers, Inc. (NYSE: TCO) will announce its second quarter 2014 earnings after the market closes on July 30, 2014 . The company will host a conference call to discuss these results on July 31, 2014 at 11 a.m. EDT . Stockholders and interested parties may listen to a live broadcast of the conference call by dialing 1-866-820-1712 or 1-973-638-3468 and using reservation code 59687686 or by accessing the call online at http://investors.taubman.com/investors/investor-events-and-presentations. An online replay will be available for approximately 90 days. A telephone replay will be available until August 14, 2014 and can be accessed at 1-855-859-2056 using reservation code 59687686. About Taubman Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 27 regional, super-regional and outlet shopping centers in the U.S. and Asia . Taubman's U.S.-owned properties are the most productive in the publicly held U.S....
Taubman Centers To Present At NAREIT's REITWeek 2014
Taubman Centers, Inc. (NYSE: TCO) today announced that Robert S. Taubman , chairman, president and chief executive officer, and Lisa Payne , vice chairman and chief financial officer, will participate in a roundtable discussion with investors on Wednesday, June 4, 2014 at 10:15 a.m. EDT at REITWeek 2014, NAREIT's Investor Forum in New York . The session will be available via webcast at www.taubman.com under "Investing/Events and Presentations" and at http://reitstream.com/reitweek2014/taubman. An online replay will follow shortly after the session and continue for approximately 30 days. About Taubman Taubman Centers is an S&P MidCap 400 Real Estate Investment Trust engaged in the ownership, management and/or leasing of 27 regional, super-regional and outlet shopping centers in the U.S. and Asia. Taubman's U.S.-owned properties are the most productive in the publicly held U.S. regional mall industry. Taubman is currently developing six properties in the U.S. and...