HONOLULU-Columbus, Ohio-based Glimcher Realty Trust is planning to acquire the remaining 80% of Pearlridge Center, a regional shopping mall containing over 1 million square feet of leasable area in Hawaii, from associates of Blackstone Real Estate Partners. The retail REIT bought 20% of the Oahu retail center in 2010, while Blackstone bought the other 80%.
The total acquisition price of the 80% indirect ownership of the Aiea center is about $289.4 million. Pearlridge Center is 99% occupied. For the full story, go to Pacific Business News .
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