REAL ESTATE

GoldMax plans 100 new stores in 2012

BY Katherine Boccaccio

Schaumburg, Ill. — GoldMax USA, which specializes in buying gold and precious metals from consumers, announced Tuesday that it plans to open up to 100 new stores in the United States in 2012, adding to its current 200+ store total.

The retailer debuted in Texas with the recent opening of two stores in the Dallas–Fort Worth metropolitan area, and another two will open in the next 30 to 60 days.

GoldMax opened its first Minnesota store (in Roseville) as well, and is under way with a new store at the Mall of America in Bloomington.

"People of all ages and economic backgrounds are rummaging through their jewelry boxes, closets and drawers, attics or basements and garages looking for unwanted items to sell," said GoldMax co-founder Jordan Sadoff.

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REAL ESTATE

Simon Property Group announces two strategic acquisitions

BY Katherine Boccaccio

Indianapolis — Simon Property Group announced that it will acquire a 28.7% equity stake in Klépierre from BNP Paribas for approximately $2 billion.

Klépierre is a Paris-based real estate company that focuses on the ownership, management and development of shopping centers, retail properties and offices across Continental Europe. Klépierre’s portfolio includes 271 shopping centers in 13 countries, with 50% of its properties in France and Belgium, 25% in Scandinavia, and the balance in Central and Southern Europe.

“The investment in Klépierre represents an attractive opportunity for SPG as we seek to broaden our global footprint,” said David Simon, chairman and CEO of SPG.

As part of the Klépierre transaction, David Simon will become the chairman of Klépierre’s nine member supervisory board. Two additional SPG representatives will join the Klépierre board as well.

SPG also announced that it has signed a definitive agreement with its joint venture partner Farallon Capital Management under which SPG is acquiring Farallon’s stake in 26 assets of The Mills Limited Partnership in a transaction valued at $1.5 billion.

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Forever 21 to expand at Discover Mills

BY Katherine Boccaccio

Lawrenceville, Ga. — Indianapolis-based Simon Property Group and its real estate platform The Mills announced that a newly expanded 20,000-sq.-ft. Forever 21 will open at its value retail destination Discover Mills, located in Atlanta.

The enlarged Forever 21 is slated to open summer 2012 near Entry 5 across from Nike Factory Store.

“An expanded and relocated Forever 21 enhances our value retail mix and the overall shopping experience at Discover Mills,” said Karl Woodard, general manager of Discover Mills.

This major relocation will allow shoppers to take advantage of Forever 21’s larger space that’s more than triple the size of its current Discover Mills store. The expansion follows recent new additions to Discover Mills including Avenlie’s Gifts for All Occasions, LY Lady and Kayly Salon & Spa.

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