ROUSE ACQUIRES MICHIGAN MALL FOR $66M

TRAVERSE CITY, MICH. — Rouse Properties has completed the purchase of the 589,000-square-foot Grand Travese Mall in Traverse City for $66 million. The single-level, enclosed mall opened in 1992 and is anchored by Macy's, JCPenney and Target. The mall includes a 650-seat food court, a nine-screen movie theater and a play area. The property is 85 percent leased. The transaction marks the first acquisition for New York-based Rouse since debuting as a publicly traded regional mall company in January 2012.