 General Motors Pension Trusts acquired the mall from Taubman in 1998 in exchange for equity it had in the mall company.In April 2004, General Motors Pension Trusts sold the mall to Mills Corporation, which, in turn, was bought by Simon Property Group in 2007.The 2006 opening of the upscale Summit Sierra Marketplace in south Reno coupled with the 2008 opening of Legends at Sparks Marina in Sparks, NV left Meadowood Mall trailing in shopping destinations for the region despite it being the lone enclosed mall in the region.