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DDR and Blackstone to acquire 76 shopping centers for $1.975 billion
Beachwood, Ohio — DDR Corp. and an affiliate of Blackstone Real Estate Partners VII have announced the formation of a third joint venture to acquire 76 shopping centers currently owned by American Realty Capital Properties, Inc.
The joint venture will acquire the portfolio in a transaction valued at $1.975 billion, including assumed debt of $461 million and approximately $800 million of new financings.
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RPAI acquires six retail assets in JV dissolution
Oak Brook, Ill. — Retail Properties of America has announced an agreement to acquire six multi-tenant retail assets through the dissolution of its MS Inland joint venture. The joint venture owns the portfolio, with 20% owned by RPAI and 80% owned by RPAI’s partner. RPAI will acquire its partner’s 80% interest in the six properties.