Blackstone Acquires Retail Portfolio For $2B Across 44 States

The Retail Portfolio in the United States, consisting of 1,400 units, was sold for $2,000,000,000 with a price per unit of $1,428,571. The property includes the Florida-born smoothie restaurant chain, Tropical Smoothie Cafe, which operates in 44 states, including central Pennsylvania.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $2,000,000,000
• Units: 1,400
• Price per Unit: $1,428,571
• Address: Retail Portfolio
• Market: United States

Blackstone, represented by Stephen A. Schwarzman and Peter Wallace, is set to acquire the retail property, which includes the Tropical Smoothie Cafe chain. The sellers, Arthur E. Levine and Matthew Frankel of Levine Leichtman Capital Partners, are facilitating the transaction. Blackstone's interest is based on the growth and loyal customer base of Tropical Smoothie Cafe, which operates across numerous states in the U.S., showcasing the appeal of franchise businesses to the investment firm.