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Retail Traffic: Blackstone’s Centro Grab Marks a Turning Point in the CRE Cycle March 2, 2011

Posted by Sean Tufts in Articles, Research/Data, Retail News, Retail Sales Comps, Sale.
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Quick link to an article featured in Retail Traffic.

“Blackstone Group’s agreement to acquire Centro Properties Group’s U.S. shopping center portfolio for $9.4 billion is being hailed as a sign that the retail real estate market has officially turned a corner.

The deal means that two Blackstone acquisitions—Equity Office Properties in early 2007 and Centro’s retail properties today—make for neat bookends in marking the commercial real estate’s cyclical peak and the end of the bottom.

Overall, the deal ranks as the second largest retail real estate acquisition ever, surpassed only by General Growth Properties’ $12.4 billion acquisition of Rouse Co. in 2004.”

Centro does not own any retail centers in Washington State, but you can bet that Blackstone just jumped to near the top of many broker’s lists of potential purchasers for grocery anchored deals in the state.

The full article is here.

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