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Owner of Ala Moana Center reaches deal to be sold

HONOLULU (KHON2) - Brookfield Property Partners says it has reached a deal to buy mall operator GGP.

GGP owns several Hawaii malls including Ala Moana Center.

Brookfield Property Partners bought GGP for $9.25 billion in cash, but the deal is said to be worth more than $15 billion.

Prior to the deal, Brookfield owned about one third of GGP, which is one of the largest mall owners in the country.

GGP, formerly known as General Growth Properties, also owns Prince Kuhio Plaza on the Big Island and Whalers Village on Maui.

Brookfield is one of the world's largest commercial real estate companies with about $68 billion in total assets.

Click here for more information on the sale.

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