Shortly after the Lazarus closing, Mills Corporation, through a 50/50 partnership with General Motors, purchased a large portion of Taubman's holdings, including Tuttle and City Center. Mills, with extensive experience in converting aged malls into revitalized structures emphasizing fresh entertainment and dining options, was seen by many to be the new hope for City Center's future. However, excitement quickly faded as Mills announced significant financial difficulties in 2006, including accounting irregularities and earnings restatements going back several years. Many of its new and redevelopment projects were either put on hold or discontinued. By February 2007, a bidding war developed between Brookfield Asset Management and Simon Property Group, in conjunction with Farallon Capital Management, for control of Mills' assets. Simon won and assumed ownership of Mills' assets in Columbus, including City Center.