The deal with Blackstone is not official at this moment in time. However it does look promising that GRT has a strong buyer with serious interest. On top of having deep pockets, Blackstone is also familiar and comfortable with the properties. They already own a minority interest in both of the malls the news-blurbs are reporting.

I would assume this deal is a bit different than most because Blackstone is NOT purchasing these properties. They already own nearly a 40% stake in them. They have to follow the proper process in acquiring the remaining equity. I would think this would make the process faster and easier than a typical sales transaction.

Who or what was the source of the news anyhow?? It was definitely premature, but fortunately for GRT it seems like they may have quite a deal in the works.