Ka-ching! Blackstone buys $123 million SA retail portfolio

SAN ANTONIO – New York-based Blackstone has closed on a 50-property retail portfolio that includes three local shopping centers.

The three local properties contributed $123.3 million and 682,186 sf to the $1.9 billion, 9.84 million-sf portfolio. Blackstone paid the seller, RioCan REIT, $181 per sf for the assets. 

Alamo Ranch, totaling 464,000 sf at 5303 W. Loop 1604 N., includes tenants such as Dick’s Sporting Goods, Best Buy, Ross, PetsMart, Target, and Ulta Beauty. It was purchased for $83.9 million.

Arbor Park Shopping Center totals 139,520 sf and was purchased for $25.2 million. Tenants at the center, located at 17700 US 281 N., include Sprouts Farmer’s Market, Office Max, Michael’s, and Ross.

Ingram Hills, located at 6020 Ingram Rd., includes tenants such as Dollar General, Chase, and La Fiesta Supermarket. The 78,666-sf center was purchased for $14.2 million.