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Blackstone Fund To Pay $473M For Malls
A Blackstone Group fund is paying $473.1 million for 36 U.S. shopping centers.
A Blackstone Group fund is paying $473.1 million for 36 U.S. shopping centers, Bloomberg reports. The Blackstone Real Estate Partners VII is buying the properties, which are mostly anchored by grocery stores, from Equity One.
Equity One is planning to use the sale proceeds to retire debt and pay for redevelopment and acquisitions. Lazard Freres & Co. advised Equity One and Eastdil Secured was adviser to Blackstone.
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