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Taubman sells part of its Starfield Hanam stake to Blackstone

Sep. 19, 2019 9:04 AM ETTaubman Centers, Inc. (TCO) Stock, BX StockBX, TCOBy: Liz Kiesche, SA News Editor7 Comments
  • Taubman Centers (NYSE:TCO) completes the sale of half of Taubman Asia's interest in South Korean shopping center Starfield Hanam to real estate funds managed by Blackstone (NYSE:BX) for $300M.
  • Net proceeds are expected to be ~$240M after the allocation of property-level debt and transaction costs.
  • After the sale, Taubman owns 17.15% beneficial interest in the shopping center.
  • Previously: Taubman, Blackstone in deal for three Asian shopping centers (Feb. 14)

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