By  on January 11, 2008

Macerich, the Santa Monica, Calif.-based developer, and the Alaska Permanent Fund Corp. have acquired The Shops at North Bridge on "The Magnificent Mile" in Chicago for $515 million.

The deal marks Macerich's entry into Chicago, and adds another high-profile property to the company's portfolio, which also includes Tysons Corner Center in Virginia, also co-owned by APFC, as well as Santa Monica Place in Los Angeles, which is slated for a major redevelopment, and Queens Center in New York.

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