SINGAPORE, Oct 1 (Reuters) - Singapore sovereign wealth fund GIC said it had formed a joint venture with mall operator Macerich Co to buy a 40 percent stake in five retail assets in the United States.

The transactions are expected to close in phases starting in October and ending in the first quarter of 2016.

"We expect these high-quality assets to continue generating steady income streams and are confident of their growth moving forward," said Lee Kok Sun, regional head for Americas at GIC Real Estate.

The statement did not specify the value of the transaction.

GIC has been on a shopping spree for properties recently. Some of its latest deals include investing about $300 million in a new joint venture with Indian developer DLF and buying a minority stake in a shopping mall controlled by Brazil's Aliansce Shopping Centers SA.

(Reporting By Aradhana Aravindan; Editing by Anand Basu)