Blackstone Throws Hat into Centro’s Ring

NEW YORK CITY-Add the Blackstone Group to the list of potential suitors for Australia-based Centro Properties Group, owner of 600 shopping centers in the US. The Wall Street Journal reported that the private equity giant has submitted an indicative bid for Centro, which is soliciting buyout offers. A Blackstone spokesman did not return GlobeSt.com’s calls for comment by deadline Wednesday afternoon.

Blackstone’s reported interest in Centro provides further evidence that the company is ramping up its commercial real estate investment activity here and abroad, 21 months after CEO Stephen Schwarzman advised a Japan Society audience in New York City to “keep away from real estate for now.” In October, Blackstone struck a $1-billion deal for 180 ProLogis industrial properties covering more than 20 million square feet of warehouse property across the US.