West Texas retail center part of $1.9 billion retail portfolio saleWest Texas retail center part of $1.9 billion retail portfolio salehttps://www.recenter.tamu.edu/news/newstalk-texas/?Item=129022016-04-19T05:00:00Z2016-04-19T16:00:00Z

​​​​EL PASO – One of the city's largest shopping centers is part of a portfolio of 49 shopping centers in Texas and the northeastern United States being sold for $1.9 billion by RioCan Real Estate Investment Trust of Toronto.

The 638,000-sf Las Palmas Marketplace was developed in the late 1990s and early 2000s at I-10 and George Dieter Dr. on the city's east side.

The buyer is a year-old investment fund managed by Blackstone Group. The deal is expected to be completed by April 30.

Las Palmas has 51 stores and a string of restaurants. It's anchored by a Kohl's department store, Lowe's home improvement store, and a 20-screen Cinemark theater, which is owned separately from the rest of the center.

El Paso Times
El Paso
http://www.elpasotimes.com/story/money/2016/04/16/el-paso-shopping-center-real-estate-portfolio-sale-new-york-investment-fund-canada-reit/82915646/Read more at {Source}

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