GGP Inc., a Chicago-based company that owns 125 malls across the U.S., including five Houston-area malls, announced March 26 that is has agreed to be acquired by Brookfield Property Partners LP. The deal is expected to close in third quarter 2018. An acquisition price has not been announced.

The following local malls will be affected by the change of ownership:

Baybrook Mall
500 Baybrook Mall Drive, Friendswood

Deerbrook Mall
20131 Hwy. 59 N., Humble

First Colony Mall
16535 Southwest Fwy., Sugar Land

Willowbrook Mall
2000 Willowbrook Mall, Houston

The Woodlands Mall
1201 Lake Woodlands Drive, The Woodlands

For more information, about the BPY and GGP merger, click here.