Taubman to Sell 50 Percent of its Interests in its Three Asia Shopping Centers to Blackstone
TAUBMAN CENTERS (TCO)
Last taubman centers earnings: 2/10 07:32 am
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Source: Business Wire
BLOOMFIELD HILLS, Mich.--(BUSINESS WIRE)-- Taubman Centers, Inc. (NYSE: TCO) has announced agreements to sell 50 percent of Taubman Asia’s interests in three Asia-based shopping centers to funds managed by The Blackstone Group L.P. (Blackstone). Blackstone will be making this investment through its Asia Core+ real estate investment unit. The investment unit targets substantially stabilized office, logistics, residential and retail assets in high quality Asian geographies and gateway cities. The interests are valued at $480 million. The transactions are subject to customary closing conditions and are expected to close throughout 2019. This press release features multimedia. View the full release here:https://www.businesswire.com/news/home/20190214005438/en/ Starfield Hanam shopping center (Hanam, Gyeonggi, South Korea) (Photo: Business Wire) Taubman will remain the partner responsible for the joint management of the
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