TIAA-CREF buys half of Galleria

Global real estate investment firm TIAA-CREF is taking an ownership stake in four major shopping malls, including the Cool Springs Galleria.

In a $1.09 billion deal announced Tuesday, shopping center operator CBL & Associates said TIAA-CREF will invest in four of its properties: Cool Springs Galleria, Oak Park Mall in Kansas City, Kan., West County Center in St. Louis and Pearland Town Center in Pearland, Texas.

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