Blackstone to Sell Retail-Center Stake to Kimco for $512M

Bloomberg reports that Blackstone plans to sell its stake in 39 retail centers to Kimco for $925 million. Blackstone initially purchased these centers in 2013 for $737 million, marking a significant profit. This sale is part of Blackstone's broader strategy to simplify its real estate portfolio before launching a new global fund. Concurrently, Kimco is also streamlining its portfolio by selling lower-quality assets and reducing joint ventures.

What is the total amount for which Blackstone is selling its retail center stake to Kimco?

• $1 billion

• $850 million

• $925 million

• $737 million

In what year did Blackstone originally purchase the 39 US shopping centers?

• 2010

• 2018

• 2015

• 2013

What is Blackstone's main goal in transforming its real estate investments?

• To increase joint ventures

• To simplify its portfolio

• To acquire more shopping centers

• To focus on residential properties

What is Kimco's strategy regarding its assets?

• Expanding joint ventures

• Selling lower quality assets

• Acquiring more high-quality assets

• Focusing on international markets

What is the relationship between Blackstone and Kimco in this transaction?

• Independent entities

• Competitors

• Joint venture partners

• Subsidiaries