Blackstone (BX) has agreed to acquire a two-thirds stake in 40 shopping malls in the U.S. for...

|About: The Blackstone Group L.P. (BX)|By:, SA News Editor

Blackstone (BX) has agreed to acquire a two-thirds stake in 40 shopping malls in the U.S. for $274M and $463M in debt from UBS (UBS) as the private-equity firm adds to its portfolio of grocery-anchored retail property. Kimco Realty (KIM), which manages the centers and owns 18%, will raise its holding to 33% for $61M in cash and $104M in debt. Meanwhile, Blackstone and two partners are buying a business park in south India for 19.5B rupees ($367M).