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Taubman Centers Inc., Bloomfield Hills, Mich., has completed the acquisition of The Falls shopping center in Miami from Heitman Capital Management, Chicago. The purchase price for the 824,000-square-foot center was $156 million. Taubman has also agreed to purchase Columbus, Ohio-based Limited Inc.'s interest in the 980,000-square-foot Mall at Tuttle Crossing, a Taubman property in Columbus, Ohio, for $76.3 million.

The Macerich Co., Santa Monica, Calif., has agreed to buy The Citadel Mall, Boulder, Colo., from Teachers Insurance & Annuity Association-College Retirement Equities Fund, New York. Real estate sources in Boulder say Macerich will pay more than $100 million for the mall.

Metropolitan Life Insurance Co., New York, has agreed to sell 10 retail properties, including nine regional malls and one community center, to Zamias Services Inc., Johnstown, Pa. The properties total more than 5 million square feet. Terms of the deal were not disclosed.

Glimcher Realty Trust, Columbus, Ohio, and Nomura Asset Capital, New York, have formed a partnership to become majority owners and recapitalize for $103 million the SuperMall of the Great Northwest, located in Auburn, Wash., a Seattle suburb. The funds include $62.5 million in new debt and $40.4 million in new equity.

In a separate, independent deal, Glimcher has purchased University Mall, Tampa, Fla., for $121 million. The 1.3 million-square-foot mall has five department store anchors, including a new 182,000-square-foot Dillard's, a 16-screen theater complex and 152 shops. The transaction will be funded with a $71.4 million first mortgage.

Westfield America, Los Angeles, has acquired Northwest Plaza, St. Ann, Mo., from Paramount Group for $111 million. The 1.8 million-square-foot mall is the largest enclosed mall in metro St. Louis.

Excel Realty Trust, San Diego, has acquired three shopping centers for a total of approximately $79.4 million. The REIT acquired a 340,000-square-foot power center in Westminster, Colo., near Denver, a 208,000-square-foot Wal-Mart-anchored center in Winchester, Tenn.; and the 680,000-square-foot Clearwater Mall, Clearwater, Fla. The Clearwater property was purchased for about $20 million (at a 19.9% cap rate), estimated to be less than the value of the land under the mall, and needs major redevelopment.

Simon DeBartolo Group, Indianapolis, is in exclusive negotiations to purchase the Fashion Mall at Keystone at the Crossing, Indianapolis. Retailing sources estimate the center's selling price at about $125 million. Purchase of the 600,000-square-foot upscale center would give Simon ownership of five of the city's six regional malls. Amresco Advisors Inc., Boston, currently manages the property for a British pension fund.

MBK Real Estate Ltd., Irvine, Calif., has acquired Parkway Plaza and the Pavilion Mall in Tukwila, Wash., from ERE Yarmouth, New York. MBK plans to redevelop both properties into a 600,000-square-foot retail complex to be known as Parkway Super Center. Total acquisition and redevelopment costs are projected to exceed $80 million.

RoProperty Services B.V., a subsidiary of Dutch-based Rodamco N.V., is buying RREEF, the REIT advisor based in San Francisco. Under the agreement, RREEF will continue to operate under its current name, as a wholly owned subsidiary of RoProperty. Rodamco has been increasing its holdings in the United States, which now include a stake in the 2 million-square-foot Garden State Plaza, Paramus, N.J., one of the 10 largest malls in the country. This transaction will allow RREEF to expand the range of real estate investment options for its clients.

DEAL OF THE MONTHHighwoods Properties Inc., Raleigh, N.C., has signed an agreement to acquire J.C. Nichols Co., Kansas City, Mo., for $570 million, including the assumption of approximately $250 million of debt. J.C. Nichols is the owner of Kansas City's Country Club Plaza, the first suburban shopping center in the United States.

However, the deal may be in trouble. Cerberus Partners, a New York hedge fund which owns about 16% of Nichols stock, has indicated that it is not pleased with terms of the deal and may vote against it. Another potential suitor, Bosfield LLC, Indianapolis, has said it might bid for Nichols.