Sources: Blackstone, Glimcher acquire Hawaiian retail for $242 million

Blackstone Group and Glimcher Realty Trust are beginning their partnership with the acquisition of the 1.1 million square foot Pearlridge Center retail center on the Hawaiian island of Oahu for $242 million, according to sources. It also is speculated the companies are seeking a new mortgage for the property to finance the deal. Other transactions pending for Blackstone include its acquisition of an 80% stake in a JV that owns 17 million square feet of warehouse space and the finalization of its $500 million investment in General Growth Properties.

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