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## ACQUISITIONS 

We completed $1.8 billion of acquisitions in 2011. The most significant transactions were: 

  An increase in ownership interest in King of Prussia from 12% to 96% – King of Prussia is one of the largest and most productive malls in the U.S. 

  Acquisition of 100% ownership in ABQ Uptown, a lifestyle center in Albuquerque, New Mexico 

In March of 2012, we invested $3.5 billion in two additional acquisition transactions. 

