RCA in the commercial property press:

Blackstone on the Retail Acquisition Path

Bloomberg reports: Blackstone has contracted to acquire 36 mainly grocery anchored strip centers from publicly traded REIT Equity One for a total of $473.1M. The properties are located throughout the southeast US with a special focus on Florida and Georgia, and the transaction is scheduled to close during the fourth quarter of this year. According to commercial property research firm Real Capital Analytics, sales of US grocery anchored centers in just the first half of this year have already exceeded the total transacted for all of 2010. This is the second large retail acquisition for Blackstone this year, following up on June’s $9 billion acquisition of Centro’s US portfolio. Lazard Freres advised Equity One, while Eastdil advised Blackstone.

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Posted by: Kevin Imboden

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