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Galleria Markets is being sold to a group of developers for $1.3 billion.
The sale was first reported by the Wall Street Journal.
The company was valued at $1 billion when it closed last year.
The news comes on the heels of another announcement by Galleria, a company that is currently being acquired by a Chinese investment firm, that it will be closing the Galleria Mall in downtown Denver, which is now in its ninth year of operation.
The mall will close on March 7.
The Mall will be closed until June, the Galleries said in a statement.
Galleria Mall is the fourth-largest shopping mall in the United States and the largest in the country.
The Galleries are a major player in the Colorado economy, with a presence in the Denver Metro area, the Boulder Metro area and the Boulder Valley area.
The mall was built by a consortium of developers including a group led by Anbang Insurance Co., a subsidiary of China’s state-owned China General Insurance Co. That group is building an eight-story mixed-use development on the site.
The Galleries’ portfolio includes three other Galleria malls: The Mall of Colorado, the Mall of America and the Gallery Plaza in Denver.