Weather Updates

California pension fund buys rest of Woodfield Mall stake

Updated: October 10, 2012 5:44PM

A California pension fund is buying out the GM pension fund’s stake in Woodfield Mall in a deal valued at $500 million, Crain’s Chicago Business reported.

The California Public Employees’ Retirement System will pay more than $500 million to buy the 50 percent stake in the mall owned by the GM pension, Crain’s reported, citing sources. CalPERS already owns the other half.

© 2014 Sun-Times Media, LLC. All rights reserved. This material may not be copied or distributed without permission. For more information about reprints and permissions, visit To order a reprint of this article, click here.