Michael Smith, Reuters · Monday, Feb. 28, 2011
SYDNEY — Private equity firm Blackstone Group LP has struck a deal to buy nearly 600 U.S. strip malls and other properties from Australia’s Centro Property Group for about US$9.4-billion, people with direct knowledge of the transaction said on Monday.
Blackstone beat rival bidders that include Morgan Stanley Real Estate, which had teamed up with Starwood Capital Group and New York-based NRDC, according to a person who was not authorized to talk to the media and did not want to be identified.
The portfolio includes 560 U.S. shopping centres, whose tenants include grocery store operators such as Kroger C., Safeway Inc. and Koninklijke Ahold NV, which owns Stop & Shop and Giant.
http://www.financialpost.com/Blackstone+malls+report/4361756/story.html
SYDNEY — Private equity firm Blackstone Group LP has struck a deal to buy nearly 600 U.S. strip malls and other properties from Australia’s Centro Property Group for about US$9.4-billion, people with direct knowledge of the transaction said on Monday.
Blackstone beat rival bidders that include Morgan Stanley Real Estate, which had teamed up with Starwood Capital Group and New York-based NRDC, according to a person who was not authorized to talk to the media and did not want to be identified.
The portfolio includes 560 U.S. shopping centres, whose tenants include grocery store operators such as Kroger C., Safeway Inc. and Koninklijke Ahold NV, which owns Stop & Shop and Giant.
http://www.financialpost.com/Blackstone+malls+report/4361756/story.html
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