Blackstone Pays $347M For Mixed-Use Center In Las Vegas

Law360, New York (September 23, 2013, 6:02 PM EDT) -- Blackstone Group LP subsidiary Equity Office Properties has acquired the 68-acre mixed-use Hughes Center in Las Vegas for $347 million to continue its investment strategy of acquiring high quality assets in select submarkets, it announced Monday.

The deal was made by the investment firm’s $13.3 billion real estate fund, Blackstone Real Estate Partners VII. Equity Office did not disclose the name of the selling entity, but Crescent Real Estate Equities had owned the Hughes Center since it acquired the property for its portfolio in 2004....
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