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DDR, Blackstone Buy $2 Billion's Worth of Shopping Centers

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The portfolio sale will include 76 centers currently held by American Retail Capital Properties.

In what will mark one of the largest retail portfolio deals year-to-date, shopping center REIT DDR and private equity firm Blackstone formed a joint venture to buy 76 shopping centers from American Realty Capital Properties, reports Bloomberg. The transaction is valued at approximately $2 billion, including assumed debt. The portfolio is made up primarily of power centers located in strong urban hubs, including Los Angeles, Chicago, Washington, D.C., Denver, Houston, Atlanta and Phoenix. It ...

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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