BLOOMFIELD HILLS — Taubman Centers, a Bloomfield Hills-based company that owns dozens of shopping centers across the country, has decided to sell seven malls, including Fairlane Town Center in Dearborn and and the Mall at Partridge Creek in Clinton Township.

Starwood Capital Group LLC, an investment firm focused on global real estate, energy, infrastructure and securities trading, has agreed to buy the seven malls for about $1.4 billion. The sale was announced on Wednesday, June 18, but  the final deal will not be closed until the last quarter of the year.

“Shoppers should see no change,” Taubman spokesperson Christoper Tennyson told the Detroit News.