The New York-based hedge fund owns almost 5 percent of the REIT and is expected to agitate for change at the company, which could include a potential sale.
The companies have discussed a premium of about 10 percent to 15 percent above GGP’s share price as of the start of this week, according to a person who asked not to be identified.
We feature 11 of the top female executives in commercial real estate, focusing on those who hold the title of CEO.
This September and October, Tanger Factory Outlet Centers' stock price was hovering at or around a five-year low of $23 to $25 per share.
The suburban office owner will list on the New York Stock Exchange under the WSPT symbol.
Investment in U.S. data center real estate soared to a record $18.2 billion in the first half of 2017, more than doubling the amount invested in all of 2016, according to CBRE.
The REIT will launch on the Singapore Exchange.
Year-to-date, retail REITs have underperformed the broader REIT index by roughly 1,400 basis points.
The $1.4 billion deal is expected to be completed in October.