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Blackstone Acquires Grocery-Anchored Center for $52.4 Million

Joint Venture Sells Bakers Centre for $220/SF
By Peter Jaquez
April 18, 2017 | 3:55 P.M.

Blackstone Real Estate Income Trust, Blackstone Group’s non-traded REIT affiliate, acquired Bakers Centre, a eight-building retail property in Philadelphia from a joint venture of Metro Development Co., Carlino Commercial Development and US Realty Associates Inc. for $52.4 million.

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