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$925M Portfolio Trade Includes San Diego Retail

A big swath of San Diego retail buildings in Rancho Penasquitos Town Centre was just traded in a massive $925M multi-state portfolio deal to a JV involving Kimco Realty Corp, the San Diego Business Journal reports. The properties were sold by The Blackstone Group, which acquired the Rancho Penasquitos portfolio in 2013, the paper said. Recently, Blackstone CEO Steve Schwarzman told Fox Business News that the fund has been the biggest buyer of real estate in Europe.

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