Blackstone to Sell NYC Mall to TPG Venture for $425 Million

Blackstone agreed to sell The Shops at Skyview in Queens to a joint venture between TPG and Acadia Realty Trust for approximately $425 million. The shopping center, spanning 555,000 square feet, is located near Citi Field and is nearly fully leased with major tenants including BJ's Wholesale Club and Marshalls. The sale is being represented by Newmark Group.