Centro Changes Name - 9/28/2011

Centro Changes Names to Brixmor Property Group

Three months after an affiliate of Blackstone Real Estate Partners VI L.P. closed on its $9.4 billion acquisition of Centro Properties Group US, the firm has announced a new identity. Effective immediately, the former Centro entity is now Brixmor Property Group. Brixmor is second largest owner of community and neighborhood shopping centers in the United States with 585 properties aggregating approximately 92.0 million square feet and as Centro ranked No. 5 overall in Retail Traffic’s annual rankings of the top owners of retail real estate in the United States.

And it’s potentially on the verge of getting even larger with the announcement earlier this week that Blackstone Real Estate Partners VII entered into an agreement to acquire 36 shopping centers containing 3.9 million square feet from Equity One Inc. for $473.1 million. The shopping centers are predominately located in the Atlanta, Tampa and Orlando markets, with additional properties located in North Carolina, South Carolina, Alabama, Tennessee and Maryland. Closing of the transaction is expected to occur in the fourth quarter of 2011.
 
— Retail Traffic Mag (Read Full Article)
 


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