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NEW HYDE PARK, NY—Kimco Realty Corp. said Friday it had acquired the remaining 66.67% interest in the Kimstone portfolio from a subsidiary of Blackstone Real Estate Partners VII. The $925-million purchase price includes the assumption of $426.7 million in mortgage debt; Kimco will pay BREP $512.3 million for its interest in the joint venture, with the deal expected to close in the first quarter of 2015.

The portfolio totals 5.6 million square feet across 39 shopping centers in California, Florida, Georgia, Maryland, Massachusetts, Nevada, New York, Pennsylvania, Texas, Virginia and Washington. It’s about 97% occupied and is divided between grocery-anchored centers and regional power centers.

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