Triple Net Buying Seven Outlet Centers

Triple Net LLC, a Santa Ana property manager, has agreed to buy seven factory outlet centers for $93.5 million from Horizon Group Properties Inc.

The Chicago owner and manager of factory outlet centers said in a press release Thursday that the centers, totaling 1.6 million square feet, are in Nevada, Kentucky, Michigan, Minnesota, Michigan and Missouri.

Horizon also will pay $57 million in debt on the centers when the sale closes.

Triple Net manages 4 million square feet of residential, industrial and office space.