Corporate Property Investors was a

real estate investment trust A real estate investment trust (REIT) is a company that owns, and in most cases operates, income-producing real estate. REITs own many types of commercial real estate, including office and apartment buildings, warehouses, hospitals, shopping cente ...

that built several notable

shopping center A shopping center (American English) or shopping centre (Commonwealth English), also called a shopping complex, shopping arcade, shopping plaza or galleria, is a group of shops built together, sometimes under one roof. The first known collec ...

s, including

Lenox Square Lenox Square is a shopping mall in the Buckhead district of Atlanta, Georgia. With 198 tenants and of gross leasable area, it is the third-largest mall in Georgia. The mall is currently owned and managed by Simon Property Group, and is consider ...

Atlanta Atlanta ( ) is the capital and most populous city of the U.S. state of Georgia. It is the seat of Fulton County, the most populous county in Georgia, but its territory falls in both Fulton and DeKalb counties. With a population of 498,715 ...

, the Burlington Mall in

Massachusetts Massachusetts (Massachusett language, Massachusett: ''Muhsachuweesut assachusett writing systems, məhswatʃəwiːsət'' English: , ), officially the Commonwealth of Massachusetts, is the most populous U.S. state, state in the New England ...

, and

Roosevelt Field Mall Roosevelt Field is a shopping mall in East Garden City, New York and Uniondale, New York. It was designed by I. M. Pei and is the largest shopping mall on Long Island, in the state of New York, and the eighth largest shopping mall in the United ...

in New York.

History

CPI was founded in 1971 by

Disque Deane Disque D. Deane (July 6, 1921 – November 8, 2010) was a prominent American financier and investor. He was the founder of, and a general partner in Starrett City Associates, which owned Starrett City in Brooklyn (now called Spring Creek Towers). ...

. From 1977 to 1998, fashion buyer and pioneering art patron

Rosalind Gersten Jacobs Rosalind Gersten Jacobs (June 9, 1925 – December 21, 2019) was an American fashion buyer, retail executive, merchandise and marketing consultant, art collector, and patron of the arts. Along with her husband Melvin Jacobs, she built relationship ...

was director of merchandise and marketing. In 1982, the company financed the

General Motors Building A general officer is an officer of high rank in the armies, and in some nations' air forces, space forces, and marines or naval infantry. In some usages the term "general officer" refers to a rank above colonel."general, adj. and n.". OED O ...

Manhattan Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five boroughs of New York City. The borough is also coextensive with New York County, one of the original counties of the U.S. state ...

with $500 million and received an option to buy the building. In 1991, the company acquired the General Motors Building for $500 million. In January 1998,

The Rouse Company The Rouse Company, founded by Hunter Moss and James W. Rouse in 1939, was a publicly held shopping mall and community developer from 1956 until 2004, when General Growth Properties (GGP) purchased the company. Beginnings - Moss-Rouse Company T ...

bid for the company. However, Rouse was outbid and CPI was acquired by

Simon Property Group Simon Property Group, Inc. is an American real estate investment trust that invests in shopping malls, outlet centers, and community/lifestyle centers. It is the largest owner of shopping malls in the United States and is headquartered in Indian ...

. The General Motors Building was sold separately to

Donald Trump Donald John Trump (born June 14, 1946) is an American politician, media personality, and businessman who served as the 45th president of the United States from 2017 to 2021. Trump graduated from the Wharton School of the University of Pe ...

and

CNO Financial Group CNO Financial Group, Inc. (formerly Conseco, Inc. (from Consolidated National Security Corporation)) is a financial services holding company based in Carmel, Indiana. Its insurance subsidiaries provide life insurance, annuity and supplemental he ...

for $800 million.

References

{{Reflist, 1 Real estate investment trusts of the United States American companies established in 1971 Real estate companies established in 1971 1971 establishments in the United States