TUPELO, Miss. (AP) — Rouse Properties, a New York-based real estate investment trust, is taking over as the managing owner of The Mall at Barnes Crossing in Tupelo.
The Northeast Mississippi Daily Journal reports (http://bit.ly/1poi8MT) Rouse Properties bought a 51 percent controlling interest in The Mall and the nearby Market Center shopping center.
Officials say the deal is valued at nearly $99 million and includes a one-year, $67 million non-recourse loan, which is secured by collateral.
Mall management has been unchanged by Tuesday's announcement.
Information from: Northeast Mississippi Daily Journal, http://djournal.com