Paul Hastings Represents GI Partners in Sale of Stake in FlatIron Crossing
Orange County, CA Paul Hastings LLP, a leading global law firm, announced today that the firm represented GI Partners ("GI"), a leading mid-market private equity firm, in the sale of its 75% ownership stake in FlatIron Crossing, a 1.7 million square foot class-A regional mall located in Broomfield, CO, to its joint venture partner, Macerich (NYSE: MAC), a public real estate investment trust.
Paul Hastings also represented GI Partners when the firm invested in FlatIron Crossing in 2009, acquiring its 75% interest in the mall from Macerich, who remained the operating partner in the venture.
GI reported that the sale of FlatIron Crossing generated a return of approximately two times invested capital and over a 25% gross internal rate of return to limited partners of GI Partners Fund III, L.P.
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