Blackstone triumphs in bidding war for Centro Properties(2)

The New York-based giant has beaten two private equity real estate joint ventures to buy the US retail portfolio of Centro in a deal valued at $9.4bn. One rival bid was in the "mid-$8bn" range.

The Blackstone Group has trumped private equity real estate rivals in the battle to acquire the US retail portfolio of Sydney stock exchange-listed property company, Centro Properties Group.

New York-based private equity and real estate giant Blackstone has been selected as the preferred bidder for Centro’s 600-property strong portfolio of North America retail assets for which it is expected to pay $9.4

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