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DEAL OF THE MONTH

Simon DeBartolo Group is entering Europe in much the same way it has achieved its staggering recent growth: by acquisition. The Indianapolis-based firm, in a joint venture with Argo II (an investment fund established by J.P. Morgan and The O'Connor Group), and Harvard Private Capital Group, will acquire a 44% stake in Groupe BEG, S.A., a Paris-based developer. The group will make an initial investment of $80 million over the next 12 to 18 months, funding BEG development opportunities in Western and Eastern Europe. The Simon group may eventually gain a controlling interest in BEG.

LaSalle, JLW, Compass in talks

Chicago-based management services company LaSalle Partners confirmed that it is in separate talks to merge with Jones Lang Wootton (JLW), London, and to acquire COMPASS Management and Leasing, Atlanta. The two deals are independent of each other. The merger with JLW would entail the issuance of LaSalle Stock, while the COMPASS deal would be a cash transaction. COMPASS is owned by Lend Lease Corp. of Australia, which acquired the management firm through its purchase of Equitable Real Estate. Other Lend Lease divisions, including its retail asset management operations in the United States, its retail property management operations in Australia and Europe, and ERE Yarmouth, are not included in the talks.

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CompUSA to acquire Computer City

CompUSA, Dallas, has agreed to acquire chief rival Computer City from Tandy Corp., Fort Worth, Texas, for approximately $275 million. Comp-USA operates 160 computer superstores nationwide, with revenues of $4.1 billion. Computer City's 100 stores totaled $1.9 billion.

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Meyerland Plaza sold

Ronus, Atlanta, has acquired the 900,000-square-foot Meyerland Plaza in Houston from The Wulfe/Meyerland Plaza Group for an undisclosed sum. Houston-based Wulfe & Co., which recently redeveloped the project, will serve as leasing agent for the center, while CNM Associates of Atlanta (an advisor to Ronus) will handle the project's property management.

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CBL to buy five centers

CBL & Associates Properties, Chattanooga, Tenn., has agreed to acquire five Nashville area centers from a partnership managed by The O'Connor Group, New York for $247.4 million in cash and stock. The centers are: Hickory Hollow Mall, 1.1 million square feet; Rivergate Mall, 1.1 million square feet; Courtyard at Hickory Hollow, 77,460 square feet; The Village at Rivergate, 166,366 square feet; and Lions Head Village, 93,290 square feet.

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Edens & Avant buys five

Edens & Avant, Columbia, S.C., has acquired five shopping centers: the 245,0000-square-foot Florence Square, Florence, Ala.; the 190,000-square-foot South Central, Moultrie, Ga.; the 97,000-square-foot Gulfdale Plaza, Mobile, Ala.; the 93,000-square-foot Riverdale Crossing, Atlanta; and the 73,000-square-foot South Square Marketplace, Charlotte, N.C.

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Glimcher acquires five malls

Columbus, Ohio-based Glimcher Realty Trust will acquire five regional malls for a total of $375 million. The firm acquired the 875,000-square-foot Northtown Mall in Minneapolis for $54 million. The other centers are: the 1.5 million-square-foot Lloyd Center, Portland, Ore.; the 730,000-square-foot Montgomery Mall, Montgomery, Ala.; the 860,000-square-foot Weberstown Mall, Stockton, Calif.; and the 700,000-square-foot Eastland Mall, Charlotte, N.C. The last project will be acquired in a partnership with Nomura Capital.

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Bradley to buy Mid-America

Bradley Real Estate, Northbrook, Ill., has agreed to acquire Omaha, Neb.-based Mid-America Realty Investments' interest in 25 strip centers for $153 million. The merger is expected to close during the third quarter.

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Western to acquire grocer

Western Real Estate Investment Trust, San Francisco has agreed to acquire Kienow's Food Stores, a 10-store supermarket chain in Portland, Ore. The deal will allow the REIT to expand its geographic focus, now in Northern California and Nevada, into Oregon and Washington.

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Elder-Beerman to acquire regional chain

Elder-Beerman Stores Corp., Dayton, Ohio, has agreed to acquire privately held regional department store chain Stone & Thomas for approximately $38 million in cash and debt repayment. Stone & Thomas operates 21 stores in West Virginia, Virginia, Ohio and Kentucky. Elder-Beerman operates 48 stores in Ohio, Indiana, Illinois, Michigan, Wisconsin, Kentucky and West Virginia.