First Washington Realty Trust Inc. and California Public Employees' Retirement System is close to buying Donahue Schriber Realty Group Inc. in a deal valued at over $3 billion, Bloomberg News reported Feb. 8, citing people with knowledge of the matter.

A deal could be finalized in the coming weeks but it may also collapse at the last minute.

JPMorgan Chase & Co. and the New York State Teachers' Retirement System were among the biggest investors in Donahue Schriber, which owns and operates 60 shopping centers, according to the report.

Representatives for First Washington, JPMorgan, CalPERS and New York State Teachers did not comment on the matter, while Donahue Schriber spokespeople did not immediately answer requests for comment sent by the news publication.