The Vista Village retail center in Vista is among seven properties being acquired in a $332 million deal by DDR Corp. and an affiliate of Blackstone Real Estate Partners VII LP.
The partners have closed on a portfolio totaling 2.4 million square feet, which also has properties in Los Angeles, Cincinnati, Portland, Ore., Washington, D.C., and Harrisburg, Pa., Ohio-based DDR said in a statement
DDR chief executive Daniel B. Hurwitz said the partnership structure with the unit of New York-based Blackstone Group will enhance the companies’ cash flow and provide access to potential future acquisitions.
DDR (NYSE: DDR), with headquarters in suburban Cleveland, owns and manages 435 value-oriented shopping centers with 115 million square feet in 39 states.
Vista Village, off state Route 78, has a total of 213,000 square feet.
— SDBJ Staff Report