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Blackstone, DDR to Buy Seven Regency Centers

Blackstone, DDR to Buy Seven Regency Centers

Blackstone has been amassing quite a sizeable retail portfolio over the past few years and that portfolio might become even larger. Various news outlets, including the Jacksonville Business Journal, report that the private equity firm and shopping center REIT DDR have reached an agreement with Regency Centers Corp. to buy seven of the latter's properties for $300 million.

Regency operates primarily grocery-anchored class-A shopping centers, which would fit well into Blackstone's existing retail property pool. In 2011, the firm paid $9.4 billion for the U.S. shopping centers belonging to Centro Properties Group and bought 36 shopping centers from Equity One Inc. for $473 million.

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