Blackstone acquires U.S. mall owner Centro Properties Group for $9 billion
New York City -- BRE Retail Holdings, an affiliate of Blackstone Real Estate Partners VI L.P. announced Tuesday that it has acquired the U.S. assets and platform of Centro Properties Group and its managed funds for approximately $9 billion.
The sale includes 585 community and neighborhood shopping centers and related retail assets aggregating 92.1 million sq. ft. in 39 states.
Centro Properties Group is the second largest owner of community and neighborhood shopping centers in the United States and is the largest landlord (by gross leasable area) to TJX Cos., Kroger Co., Ahold USA, Dollar Tree and Staples.
Michael Carroll, the current CEO of Centro Properties Group U.S., as well as the six additional members of the management committee, will continue at the company.