Country Club Plaza in the Kansas City to Have New Owners Soon

Country Club Plaza in the Kansas City to Have New Owners SoonThe iconic Country Club Plaza in the Kansas City will have new owners soon with Taubman Centers and Macerich Co. as its new owner. They will be the fifty-fifty owners through the $660 million deal.

In an announced on Monday, Highwood Properties Inc. said that that they reached a $660 million deal with the buyers after much consideration.

Vice president and division manager of Highwoods Properties in Kansas City, Glenn Stephenson, said the company "received tremendous interest from an eclectic group of credible prospective buyers. After careful consideration, we have selected a joint venture between Taubman Centers and the Macerich Co. as the buyer of the Plaza."

It will be the second ownership change for the property since it opened way back in 1923. The sales deal will probably close in February 1.

Taubman and Macerich will also jointly manage the Plaza. The joint-venture buyers, who operate as Country Club Plaza KC Partners LLC, aim to buy "substantially all", of the famous shopping district. It includes eighteen properties offering an area of 804,000 square feet including office and retail space.