Kimco Realty And Blackstone Acquire Retail Portfolio In Pembroke Pines, Hollywood, Oakland Park, And Atlanta For $425.8M

Kimco Realty and Blackstone have jointly acquired a retail portfolio consisting of six properties in Pembroke Pines, Hollywood, Oakland Park, and Atlanta. The properties include 600 North University Drive, 12550 Pines Boulevard, 3251 Hollywood Boulevard, 1003 East Commercial Boulevard, 13850 Southwest Eighth Street, and 3730 Carmia Drive Southwest. The total sale price for this transaction amounts to $425,800,000. The portfolio spans approximately 1,200,000 square feet, resulting in an average price per square foot of $355.

Summary of transaction details

• Property Type: Retail
• Transaction Amount: $425,800,000
• Address: 600 North University Drive, Pembroke Pines
• Address: 12550 Pines Boulevard, Pembroke Pines
• Address: 3251 Hollywood Boulevard, Hollywood
• Address: 1003 East Commercial Boulevard, Oakland Park
• Address: 13850 Southwest Eighth Street, Atlanta
• Address: 3730 Carmia Drive Southwest, Atlanta

Danny Finkle, a representative from JLL, facilitated the deal between Kimco Realty and Blackstone. Connor Flynn acted as the representative for Kimco Realty, while Stephen Schwarzman represented Blackstone.