Blackstone takes majority stake in Fla., Ore. retail centers

03/30/2010 | American City Business Journals

Blackstone Group has taken a majority stake in two retail centers in Florida and Oregon through a joint venture with Glimcher Realty Trust. Blackstone paid $320 million, an amount that includes the assumption of $215 million in debt on WestShore Plaza in Tampa and the Lloyd Center in Portland. Glimcher realized proceeds of roughly $60 million from the deal. It will continue to manage the properties.

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