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Blackstone Goes to the Mall...in Queens

NEW YORK CITY—The private equity firm has picked up a retail mall and parking garage in Flushing, Queens, marking entrée into territory previously uncharted by the company.

By Rayna Katz | Updated on June 23, 2015

NEW YORK CITY—Blackstone appears poised to cash in on the retail sector’s success. The private equity giant has purchased the Shops at SkyView Center, a retail mall and parking garage at a large mixed-use complex in the Flushing section of Queens, for about $400 million, according to Crain’s New York Business. The seller, Onex Corp.—also a real estate investment and private equity firm—co-developed the project.

The seller was represented by Eastdil Secured. Doug Harmon, senior managing director of the brokerage firm, could not be reached by GlobeSt.com for comment at press time. Blackstone did not respond to requests for comment; it was unclear if the firm handled the sale in-house or had outside advisors.

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