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Blackstone Buys $9.4B Centro U.S. Malls
Blackstone Group will acquire Centro Properties Group’s 588 U.S. shopping centers.
Blackstone Group will acquire Centro Properties Group’s 588 U.S. shopping centers, The Wall Street Journal reports. The U.S. private-equity firm will pay around $9.4 billion in a deal that will allow Centro’s Australian operations to continue as a stand-alone company.
Morgan Stanley Real Estate Fund VII and Starwood Capital had also partnered for a joint bid, while NRDC Equity Partners and AREA Property Partners made a combined offer for the properties. UBS and JPMorgan were appointed to manage the sale process for Melbourne-based Centro, adds Reuters.
Click here for the story from The Wall Street Journal.
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