General Growth Properties Inc. and Bloomingdale's, Inc. announced the opening of a 167,000-square-foot, three-level store at Ala Moana Center. The luxury department store will serve as the centerpiece of a major retail expansion and common area renovation at Ala Moana Center. When open, Bloomingdale's joins Nordstrom, Neiman Marcus and Macy's, and an extensive list of luxury and fashion tenants including Bottega Veneta, Balenciaga, LVMH, Hermes, Chanel, Gucci, Cartier, Harry Winston, Tiffany & Co., Tory Burch, Victoria's Secret, Abercrombie & Fitch, Apple, Microsoft and nearly 300 global and regional retailers and restaurants.

General Growth Properties Inc. and TIAA-CREF announced they have formed a partnership to own and operate The Grand Canal Shoppes, including The Shoppes at the Palazzo, located in Las Vegas, Nevada. The Grand Canal Shoppes is located at the heart of the Las Vegas Strip within The Venetian and The Palazzo hotel, casino and resort complex. The property is 99% leased and comprises approximately 774,000 square feet of gross leasable area occupied by upscale retailers and restaurants. The Grand Canal Shoppes generates more than $1,000 of sales per square foot. Effective with the partnership formation, GGP and TIAA-CREF will each own approximately 50% of The Grand Canal Shoppes. The partnership is limited to the retail portion of the property. Prior to the formation of the partnership, GGP owned 100% of the property. The transaction generated approximately $410 million of net proceeds, and GGP will continue to provide management and leasing services.

General Growth Properties Inc. announced that its Board of Directors declared a quarterly common stock dividend of $0.12 per share. The dividend is payable on July 30, 2013, to stockholders of record on July 16, 2013. The Board of Directors also declared a quarterly dividend on its 6.375% Series A Cumulative Redeemable Preferred Stock of $0.3984 per share payable on July 1, 2013 to stockholders of record on June 14, 2013.