Globe Trotting
Dec 1, 2007 12:00 PM
The trend of U.S.-based developers going international continued last month with three firms making big announcements about overseas initiatives. CBL & Associates Properties Inc. announced a partnership with Tenco Realty, an owner, operator and developer of retail properties based in Belo Horizonte, Brazil. The partnership will develop, redevelop and acquire centers in Brazil, starting with a $15.3 million investment to acquire a 60 percent interest of a 220,000-square-foot shopping center in Macaé. Meanwhile, Urban Retail Properties LLC won a consulting contract on the retail portion of Taipei 101 — one of the tallest buildings in the world. Lastly, General Growth Properties expanded its international portfolio with the grand openings of centers in Brazil and Turkey. It opened Espark in Eskisehir, Turkey, Bangu Shopping in Rio de Janeiro and Santana Parque Shopping in São Paulo.
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