Rouse Said in Talks for Shopping Mall Firm

Columbia, Md.-based Rouse Co. is in talks to buy closely held Corporate Property Investors Inc., one of the country’s biggest shopping mall owners, in a transaction that could top $4 billion. If an agreement is reached, it would be one of the biggest real estate transactions ever. New York-based Corporate Property Investors owns two office buildings and about two dozen malls that are among the most productive in the country, with the top five generating sales per square foot of about $400, or double the industry average. One of the country’s biggest real estate companies, Rouse owns more than 250 shopping centers, offices and industrial properties, valued at about $6 billion. The talks are part of a wave of consolidations that are expected to put most of the nation’s malls into the hands of the biggest operators.