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General Growth Properties, Inc. and Kimco Realty Form Joint Venture Partnership to Redevelop Owings Mills Mall in Maryland

General Growth Properties, Inc. (NYSE: GGP) and Kimco Realty (NYSE: KIM) today announced a joint venture partnership in which both companies would own 50 percent interest of Owings Mills Mall in Owings Mills, Maryland. As part of the joint venture, GGP and Kimco will co-lead a redevelopment of the 25 year old, 1 million-square-foot regional mall in northwest Baltimore County. GGP previously owned 100 percent interest in Owings Mills Mall.

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