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Blackstone Fund To Pay $473M For Malls
A Blackstone Group fund is paying $473.1 million for 36 U.S. shopping centers.
ABlackstone Groupfund is paying $473.1 million for 36 U.S. shopping centers,Bloombergreports. TheBlackstone Real Estate Partners VIIis buying the properties, which are mostly anchored by grocery stores, fromEquity One.
Equity One is planning to use the sale proceeds to retire debt and pay for redevelopment and acquisitions.Lazard Freres & Co.advised Equity One andEastdil Securedwas adviser to Blackstone.
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