NEW YORK — Furthering its portfolio buildup, Mills Corp. announced Wednesday that it had purchased the Great Mall of the Bay Area in Milpitas, Calif., for $265.5 million, from Swerdlow Real Estate Group.

In the past year, Mills, a real estate investment trust based in Arlington, Va., bought the Del Amo Fashion Center in California and five properties from Cadillac Fairview of Toronto, including The Galleria in White Plains, N.Y. Del Amo is the fourth largest mall in the country with 2.5 million square feet.

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