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Blackstone Expands Retail Real Estate Shopping Spree With Nationwide Deal

New York Investor Spends $800 Million on Portfolio of Properties From California to Florida

The 315,000-square-foot Midtown Crossing shopping center at 4550 W. Pico Blvd. in Los Angeles sold to Blackstone as part of an $800 million portfolio purchase. (CoStar)
The 315,000-square-foot Midtown Crossing shopping center at 4550 W. Pico Blvd. in Los Angeles sold to Blackstone as part of an $800 million portfolio purchase. (CoStar)

Powerhouse real estate investor Blackstone Group bought a retail portfolio spanning eight states across the U.S., another sign of long-term confidence in a type of commercial real estate that has thrived or struggled in the pandemic depending on location and the success of owners in selecting store tenants.

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