Taubman Centers Buys Additional Interests in Int'l Plaza, Waterside Shops
Taubman Centers, Inc. (NYSE: TCO) today announced the acquisition of an additional 49.9 percent interest in International Plaza (Tampa, Fla.) and an agreement to acquire an additional 25 percent interest in Waterside Shops (Naples, Fla.).
The company acquired its additional interest in International Plaza from CSAT, LP, increasing its ownership in the center to 100 percent. The $437 million purchase price for CSAT, LP's interest in the center consists of $275 million of cash and approximately $162 million of beneficial interest in debt.
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