Ontario Teachers' Pension Plan Board, Toronto, teamed up with Macerich...

Ontario Teachers’ Pension Plan Board, Toronto, teamed up with Macerich Partnership, a REIT, to buy five regional shopping malls, said Lee Fullerton, spokeswoman for the C$60 billion (U.S.$39 billion) fund. The pension fund, which owns 10% of Macerich, has a 49% stake in the shopping center deal, which includes Washington Square Shopping Center, Tigard, Ore.; Kitsap Mall, Silverdale, Wash.; and Cascade Mall, Burlington, Wash. Ontario Teachers’ paid U.S.$75 million for its stake, Ms. Fullerton said.