Blackstone Is Latest Private Equity Firm To Hand A UK Mall Back To Lenders

Blackstone has ceded control of a major UK shopping centre that it bought for £190M to lenders. 
The investment giant has handed the keys of the 830K SF St Enoch Centre in Glasgow back to lenders Morgan Stanley and M&G Real Estate, React News reported. The lenders are working on new plans with asset manager Sovereign Centros for the mall.
Retail only makes up about 0.5% of Blackstone’s roughly $167B of real estate assets under management. This is the third time in less than six months it has lost control of assets in the sector in the UK and Ireland. Bisnow revealed last October…

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