Sabey Sells Spokane's Northtown Mall

SEATTLE - Sabey Corp. said it sold the NorthTown Mall shopping center in Spokane to JP Realty.

JP Realty, a Salt Lake City-based real-estate investment trust, financed the purchase of mall by paying $43.5 million in cash and assuming an $84.5 million mortgage.

Seattle-based Sabey bought the Spokane mall in 1989.