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Kim_Gatley
Kim Gatley
S
enior Vice President & Director of Research at REOC San Antonio

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Blackstone closes on $123 million worth of SA retail space in RioCan portfolio acquisition

Alamo Ranch recently acquired by Blackstone.

Alamo Ranch recently acquired by Blackstone.

One of the world’s largest private equity real estate investment firms is now the owner of three of San Antonio’s largest retail centers after closing on a 50-property portfolio encompassing nearly 9.84 million square feet.

New York-based Blackstone‘s deal with RioCan REIT — the former owner of Alamo Ranch, Ingram Hills and the Arbor Park Shopping Center — boosts the investment firm’s San Antonio portfolio by an additional 682,186 square feet. The three local properties contributed $123.3 million to the portfolio.

That equates to Blackstone paying exactly $181 per square foot for the three assets.

The portfolio as a whole — for which, according to Real Capital Analytics, Blackstone paid $1.9 billion — has a strong focus on Texas, including properties in Austin, Dallas and Houston.

Click here to read the full article: Blackstone closes on $123 million worth of SA retail space in RioCan portfolio acquisition (San Antonio Business Journal, 5/26/2016)

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